Data: Robinhood's cryptocurrency trading volume in the third quarter reached $14.4 billion, a year-on-year increase of 112%

ChainCatcher news, according to The Block, the zero-commission trading platform Robinhood has released its third-quarter financial report. The data shows that the cryptocurrency trading volume reached $14.4 billion in the quarter, a year-on-year increase of 112%, but a decline compared to $21.5 billion in the second quarter and $36 billion in the first quarter. In terms of stock trading, the trading volume reached $286.2 billion, a year-on-year increase of 65%.

Specific revenue data shows that Robinhood's total revenue for the third quarter was $637 million, slightly below the market expectation of $651 million. Among this, transaction-related revenue increased by 72% year-on-year to $319 million. Breaking it down: cryptocurrency trading revenue was $61 million, a year-on-year increase of 165%, but a decrease from $81 million in the previous quarter; options trading revenue was $202 million, a year-on-year increase of 63%; stock trading revenue was $37 million, a year-on-year increase of 37%.

The company's Chief Financial Officer Jason Warnick stated, "The third quarter performed strongly, with revenue increasing by 36% year-on-year, most of which converted into profit. We have set a goal to achieve another year of profit growth in early 2024 and are pleased to have broken revenue and earnings per share records." Notably, Robinhood's assets under custody (AUC) increased by 76% year-on-year to $152.2 billion, primarily driven by continued net deposits from users and rising valuations of stocks and cryptocurrencies. Additionally, the company has confirmed this month that it will expand support for Bitcoin and Ethereum futures products and has launched contract products this week that allow users to predict the outcome of the U.S. presidential election.