PANews reported on October 31 that according to The Block, U.S. stock broker Robinhood announced its third-quarter results, which showed that despite a slowdown in trading volume throughout the year, retail traders' interest in cryptocurrencies remained strong. Robinhood's cryptocurrency trading volume in the third quarter increased by 112% year-on-year to $14.4 billion (but decreased from the previous two quarters), and its stock trading volume increased by 65% to $286.2 billion.
Robinhood’s trading revenue increased 72% from the same period last year to $319 million, including $61 million from cryptocurrency trading (up 165%), $202 million from options trading (up 63%), and $37 million from stock trading (up 37%). Despite the growth, cryptocurrency revenue was down from $81 million in the previous quarter.
The company's assets under custody (AUC) grew 76% year-over-year to $152.2 billion, helped by continued net deposits and rising valuations of stocks and cryptocurrencies. Robinhood reported third-quarter earnings of $0.17 per share, reversing a loss of $0.09 per share last year. Quarterly revenue was $637 million, slightly below expectations of $650.67 million.
