Robinhood reports record Q3 revenue of $1.42B with prediction market revenue growing 6x and its new blockchain generating $26M.
Tech & Launches ·
Robinhood reported record third-quarter net revenue of $1.42 billion, with its newly launched blockchain contributing $26 million in net revenue to the quarter. The chain represented a new revenue stream, as it had not been operational a year prior. Prediction market revenue grew significantly, climbing from $146 million to $173 million, while options revenue expanded from $95 million to $399 million during the same period.
Robinhood Chain generated approximately 22 percent of the company's $120 million crypto revenue this quarter and ranked among the top four chains by revenue and volume, with over $60 billion in decentralized exchange volume. Without the chain's contribution, crypto revenue would have declined 6 percent quarter-over-quarter; instead, it rose 20 percent with the blockchain included. Additional revenue sources included $54 million from other lines, comprising gold subscriptions and $47 million attributed to Trump Accounts.
The extent to which Robinhood plans to expand blockchain infrastructure support and the composition of future chain-generated revenues remain open questions. Specifics on how prediction markets and options will compete for growth in coming quarters, as well as the sustainability of the chain's current revenue trajectory, have not been detailed.