According to Deep Tide TechFlow news on October 31, The Block reported that the commission-free trading platform Robinhood (stock code: HOOD) released its third-quarter financial report. The data shows that cryptocurrency trading volume reached $14.4 billion in the quarter, a year-over-year increase of 112%, but a decline compared to $21.5 billion in the second quarter and $36.0 billion in the first quarter. In terms of stock trading, the trading volume reached $286.2 billion, a year-over-year increase of 65%.
Specific revenue data shows that Robinhood's total revenue for the third quarter was $637 million, slightly below the market expectation of $651 million. Among them, transaction-related revenue grew 72% year-over-year to $319 million, with a breakdown as follows: cryptocurrency trading revenue was $61 million, a year-over-year increase of 165%, but a decline from $81 million in the previous quarter; options trading revenue was $202 million, a year-over-year increase of 63%; stock trading revenue was $37 million, a year-over-year increase of 37%.
The company's Chief Financial Officer Jason Warnick stated: “The third quarter showed strong performance, with revenue growing 36% year-over-year, most of which converted into profit. We set a goal at the beginning of 2024 to achieve another year of profit growth and are pleased to have broken records for revenue and earnings per share.” Notably, Robinhood's Assets Under Custody (AUC) grew 76% year-over-year to $152.2 billion, primarily due to continued net deposits from users and rising valuations of stocks and cryptocurrencies. Additionally, the company confirmed this month that it will expand support for Bitcoin and Ethereum futures products and launched a contract product this week allowing users to predict the outcome of the U.S. presidential election.