Robinhood Misses Q3 Earnings as Crypto Revenue Rises

Robinhood reported third-quarter revenue of $1.42 billion, missing the roughly $1.43 billion Wall Street expected, while earnings fell to $0.51 per share versus $0.55 projected. Crypto revenue rose to $120 million from $100 million, yet event contracts grew to $173 million, overtaking crypto for the first time as the platform navigates a downturn in trading activity.