Revenue in millions of U.S. dollars. Source: Robinhood’s Q3 2026 earnings presentation. The chain contribution is included in total crypto revenue.
The brokerage’s results showed total net revenue of $1.424 billion, up 12% from $1.274 billion a year earlier. Diluted earnings per share fell to 51 cents from 61 cents. Both fell short of MarketBeat’s consensus of $1.44 billion in revenue and about 56 cents per share.
Crypto revenue remained 55% below the $268 million reported in the third quarter of 2025. The $120 million result compared with a $135.64 million average analyst projection published by Zacks Investment Research ahead of the release.
Robinhood said its earnings included $67 million in unrealized losses, equivalent to 7 cents per diluted share, primarily tied to Robinhood Ventures Fund I. It also introduced an adjusted earnings measure that excluded certain non-operating items, reporting adjusted EPS of 60 cents.
Chain Revenue Offsets Trading Weakness
Crypto notional trading volumes across Robinhood App and Bitstamp totaled $49.8 billion, up 23% from the second quarter but down 38% from a year earlier. That sequential rebound did not prevent revenue outside the chain from declining.
Robinhood Chain is an Ethereum-compatible Layer 2 network built on Arbitrum technology. Robinhood said the network generated more than $80 billion in decentralized-exchange trading volume and more than $50 million in chain fees during its first quarter on mainnet. Those chain fees are a separate metric from the $26 million in net revenue attributed to the network in the earnings presentation.
The network supports Stock Tokens, debt securities that provide exposure to shares and ETFs without legal or beneficial rights in the underlying securities. Its lending expansion has continued into the fourth quarter: Morpho announced on Oct. 22 that Robinhood Stock Tokens could be used as collateral to borrow stablecoins, as The Defiant reported.
Robinhood scheduled its results call for 5 p.m. ET on Oct. 27.
