Home Featured Robinhood reports total net revenue of $361 millions in Q3

Robinhood reports total net revenue of $361 millions in Q3

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Robinhood reports total net revenue of $361 millions in Q3



Options trading made $124 million, an increase of 10% over the previous quarter. The decrease in cryptocurrency trading to $51 million was 12% QoQ, while the increase in equities trading to $31 million was 7% QoQ.

Vlad Tenev, CEO, and Co-Founder, Robinhood Markets said:

Our goal to achieve adjusted EBITDA profitability was achieved in the third quarter. This quarter was one quarter earlier than expected. Customers’ top requests were met, including advanced charts and cash account options. We also provided instant withdrawals and self-custody via web3 wallet. In the next week, we are raising the yield on uninvested cash for Gold members – making it one of the best rates in the industry.

Numbers of clients

Robinhood also saw significant declines in client metrics. From 14 million users in the previous quarter, the monthly active users decreased to 12.2million. These numbers also fell 8% from December 2021. According to the broker, the decline was due to lower balance users who are less active in current market conditions.

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