Robinhood reported $120 million in crypto revenue for the third quarter, with Robinhood Chain contributing $26 million, according to The Defiant. That contribution helped offset a decline in crypto revenue from other parts of the business. Even so, the company’s broader financial results came in below expectations, with both revenue and earnings missing MarketBeat’s consensus estimates. The figures point to Robinhood Chain as a meaningful support for the firm’s crypto segment during the quarter, even as weakness showed up elsewhere in its crypto operations. The report did not provide additional breakdowns beyond the chain’s contribution, the total crypto revenue figure, and the comparison with MarketBeat’s consensus.
Robinhood posted $120 million in crypto revenue in the third quarter, and Robinhood Chain accounted for $26 million of that total, according to The Defiant. The contribution offset a decline in crypto revenue elsewhere in the business.
Robinhood Chain supported the quarter’s crypto results
The report said Robinhood Chain added $26 million in revenue during the quarter. That helped counter weaker crypto revenue in other parts of Robinhood’s operations and lifted total Q3 crypto revenue to $120 million.
Company-wide results missed consensus
Despite the support from Robinhood Chain, Robinhood’s overall revenue and earnings fell short of MarketBeat’s consensus estimates.
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