According to PANews on October 31, and reported by The Block, U.S. brokerage firm Robinhood announced its third-quarter performance, revealing that despite a slowdown in trading volume for the year, retail traders' interest in cryptocurrencies remains strong. The cryptocurrency trading volume on the Robinhood platform grew 112% year-over-year to $14.4 billion (though it decreased compared to the previous two quarters), while its stock trading volume increased 65% to $286.2 billion.
Robinhood's trading revenue grew by 72% year-over-year to $319 million, with cryptocurrency trading revenue of $61 million (up 165%), options trading revenue of $202 million (up 63%), and stock trading revenue of $37 million (up 37%). Despite the growth, cryptocurrency revenue declined from $81 million in the previous quarter.
The company's assets under custody (AUC) grew by 76% year-over-year to $152.2 billion, thanks to continued net deposits and rising valuations in stocks and cryptocurrencies. Robinhood reported third-quarter earnings per share of $0.17, reversing a loss of $0.09 per share from last year. Quarterly revenue was $637 million, slightly below the expected $650.67 million.