Results and market reaction
For the quarter ended Sept. 30, earnings per share were 51 cents and revenue was $1.42 billion, matching the LSEG consensus. The company's top line grew 12% year over year. It was not immediately clear whether the reported earnings figure is directly comparable to the LSEG estimate.
The stock dropped 3% in late trading after total transaction revenue came in below StreetAccount expectations. Investors are watching whether growth areas can steady earnings as crypto activity swings.
What moved the numbers
Robinhood has been broadening its model beyond a trading app into a wider financial platform. Options and event contracts have become bigger contributors to activity, alongside investments in wealth management, subscriptions and other services.
Transaction-based revenue rose 19% to $867 million, powered largely by event contracts that grew more than fivefold. Options revenue climbed 31% to $399 million, and revenue from equities trading increased 41% to $121 million. Revenue from cryptocurrencies dropped 55%, landing at $120 million. Speaking to CNBC, Chief Financial Officer Shiv Verma said event contracts linked to crypto movements did well, offering clients an alternative avenue to express a crypto outlook even as prices and spot trading cooled.
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Deposits and the investor angle
Net deposits for the quarter totaled $15.7 billion; that equates to a 17% annualized increase relative to total platform assets as of the end of Q2 2026. Across the last 12 months, net deposits were $71 billion, representing 21% growth versus total platform assets at the close of Q3 2025.
Why it matters: the mix is shifting. Options and event contracts carried the quarter while crypto lagged, which is exactly the kind of diversification investors want to see if they are underwriting steadier earnings over time.
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