The Quarter in Brief
Robinhood reported its third quarter of 2026, the three months ended September 30, after the market closed on October 27. Total net revenues were a record $1.42 billion, up 12% from $1.27 billion a year earlier. Reported earnings per share were $0.51, down 16% from $0.61. Adjusted earnings per share, a measure the company introduced this quarter that leaves out items such as gains and losses on its investments, restructuring costs and the amortization of acquired intangible assets, were $0.60, down 3% from $0.62.
Analysts had expected revenue of about $1.43 billion and adjusted earnings per share of about $0.55, so revenue came in slightly short and adjusted earnings ahead. What made this quarter different was the change in where the money came from. Revenue from event contracts, Robinhood's prediction markets, rose more than sixfold to $173 million, while crypto revenue fell 55% to $120 million. Prediction markets now earn Robinhood more than crypto does.