Robinhood’s latest quarterly report shows a curious split. The company posted a record $1.31 billion in revenue, beating expectations and pushing earnings per share up 48% to $0.62. Yet, crypto trading revenue fell sharply, dropping 38% to $100 million, dragging shares down roughly 4% after hours.
Trading activity on Robinhood’s platform reveals where the strength and weakness lie. Total transaction-based revenue jumped 44% to $776 million, thanks to booming equities, options, and event contracts. Equities trading volume nearly doubled to $956 billion, while options contracts traded rose 50% to 774 million. Event contract revenue soared more than tenfold to $156 million, showing investors’ growing appetite beyond traditional stocks.
But crypto didn’t share in that success. Volume on Robinhood’s app slid 35% to $18 billion, even though Bitstamp added an extra $22 billion in crypto volume. This drop in crypto activity highlights increased caution or shifting interest among retail investors. Meanwhile, net interest revenue climbed 9% to $389 million, bolstered by growth in interest-earning assets despite lower short-term rates.
On the expenses side, Robinhood’s costs rose 33% to $734 million. Marketing pushes, restructuring charges from recent layoffs, and investments in new ventures like Rothera contributed to the increase. The company also narrowed its 2026 outlook on adjusted operating expenses, signaling tighter cost controls ahead.
The crypto decline contrasts with other parts of Robinhood’s business that continue to thrive, reflecting broader market trends where equities and options regain momentum. Traders who follow Bitcoin and Ethereum price moves may notice this shift as a sign of changing investor focus.
This content is for informational purposes only and does not constitute financial advice.
