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Robinhood posts $808 million Q3 adjusted EBITDA as crypto revenue beats forecasts

Robinhood recorded $808 million in third-quarter adjusted EBITDA, leaning on a business diversification strategy to soften a 55% year-over-year decline in crypto revenue that still beat Wall Street expectations.

Robinhood feather logo and name on a neon green background.
Image: @solidintel_x

Robinhood generated $808 million in adjusted EBITDA for the third quarter, reporting that its diversification strategy helped cushion the impact of a 55% year-over-year drop in cryptocurrency revenue amid market volatility, according to Crypto Briefing.[2]

Despite the sharp annual slump, the company's crypto revenue exceeded Wall Street analyst estimates, as reported by CoinDesk and Solid Intel. Crypto revenue rose 20% compared to the second quarter to reach $120 million, according to CoinMarketCap.[3][4][1]

New initiatives also provided a fresh boost to results, with Robinhood Chain generating $26 million during its first quarter live on mainnet, CoinMarketCap reported.[1]

Key facts

  • Robinhood posted $808 million in adjusted EBITDA for the third quarter.
  • Robinhood's crypto revenue fell 55% year-over-year in Q3.
  • Crypto revenue reached $120 million in Q3, marking a 20% sequential increase from Q2.
  • Robinhood's crypto revenue topped Wall Street expectations despite the yearly decrease.
  • Robinhood Chain contributed $26 million in its debut quarter on mainnet.
  • Robinhood credited its diversification strategy with mitigating the crypto revenue downturn.

Sources 路 4 sources

  1. CO

    CoinMarketCap@CoinMarketCapPost on X 路

    LATEST: 馃搳 Robinhood's Q3 crypto revenue rose 20% from Q2 to $120M but is still down 55% from a year earlier, with Robinhood Chain adding $26M in its first quarter on mainnet. https://t.co/e7DHd1r4PQ

    Open source
  2. CB

    Crypto BriefingArticle 路

    Robinhood posts $808 million in Q3 adjusted EBITDA as crypto revenue falls 55% Robinhood's diversification strategy mitigates crypto revenue decline, highlighting resilience and adaptability in a volatile market landscape. The post Robinhood posts $808 million in Q3 adjusted EBITDA as crypto revenue falls 55% appeared first on Crypto Briefing .

    Open source
  3. CO

    CoinDesk@CoinDeskPost on X 路

    LATEST: Robinhood's crypto revenue fell 55% from last year, but topped Street forecasts https://t.co/GrBlnHhEIa

    Open source
  4. SI

    Solid Intel 馃摗@solidintel_xPost on X 路

    INTEL: Robinhood's crypto revenue falls 55% from a year ago but tops Wall Street forecasts https://t.co/usAl4xvcFf

    Open source