Robinhood (NASDAQ:HOOD) delivered stronger-than-expected third-quarter results on Wednesday, powered by a sharp rise in cryptocurrency trading revenue, while also highlighting growing momentum in its prediction markets business. The announcement came alongside news that Chief Financial Officer Jason Warnick will retire next year.
Warnick will step down as CFO in the first quarter of 2026 and transition to a strategic advisory role until September 1, 2026. He will be succeeded by longtime Robinhood finance executive Shiv Verma.
Despite the upbeat report, Robinhood shares slipped more than 1% in after-hours trading.
The company posted third-quarter earnings of $0.61 per share on revenue of $1.27 billion, surpassing analyst expectations for $0.51 per share and $1.19 billion in revenue.
“Q3 was another strong quarter of profitable growth, and we continued to diversify our business, adding two more business lines—Prediction Markets and Bitstamp—that are generating approximately $100 million or more in annualized revenues,” the company said.
Total revenue jumped 100% year-over-year, driven by a 129% increase in transaction-based income. Gains were led by cryptocurrency and options trading activity.
“We see next phase of growth coming into focus across prediction markets, tokenization, banking and wealth management that reinforce Robinhood’s evolution into a broader financial services platform underpinned by new and emerging business lines,” analysts at Morgan Stanley said in a client note.