Robinhood Stock: Earnings Smash Expectations as Revenue Doubles and Profit Triples
Robinhood Markets (NASDAQ: HOOD) has delivered one of its strongest quarters in company history, posting record revenue and profit in Q3 2025. Fueled by a surge in trading activity, rapid product expansion, and the integration of Bitstamp, the results confirmed the platform’s growing influence in both retail and institutional markets.
- Revenue: $1.27 billion, up 100% year-over-year
- Net income: $556 million, up 271%
- Diluted EPS: $0.61, up 259%
- Total Platform Assets: $333 billion (+119%)
- Robinhood Gold subscribers: 3.9 million (+77%)
- Record-breaking results across all segments
Robinhood’s performance exceeded Wall Street expectations, marking another step in its transformation from a trading startup into a diversified financial ecosystem. Analysts had expected $1.20 billion in revenue and adjusted earnings of $0.61 per share, both of which the company surpassed.
Transaction-based revenue jumped 129% year-over-year to $730 million, driven by a massive rebound in crypto trading, which generated $268 million—up more than 300% from last year. Options trading produced $304 million, up 50%, while equity trading rose 132% to $86 million.
Net interest income climbed 66% to $456 million, thanks to growing interest-earning assets and strong securities lending demand. “Our team’s relentless product velocity drove record business results in Q3 and we’re not slowing down,” said CEO Vlad Tenev, pointing to the rapid growth of Prediction Markets, the gradual rollout of Robinhood Banking, and the upcoming launch of Robinhood Ventures.
Chief Financial Officer Jason Warnick described it as another quarter of “profitable growth,” noting that Robinhood added two new business lines—Prediction Markets and Bitstamp—that already generate roughly $100 million each in annualized revenue.
Platform expansion and user growth
Robinhood’s customer base continues to expand, with 26.8 million funded customers, up 10% year-over-year. The number of investment accounts grew 11% to 27.9 million, driven by a new wave of users engaging with options, futures, and digital assets.
Total Platform Assets surged 119% to $333 billion, fueled by higher crypto and equity valuations, net deposits, and asset transfers from newly acquired clients. Net deposits reached a record $20.4 billion in Q3—an annualized growth rate of 29%—and totaled $68.3 billion over the last year, marking a 45% increase compared to 2024.
The company’s Robinhood Gold program also saw explosive growth, rising to 3.9 million subscribers, a 77% year-over-year jump. Revenue from Gold memberships doubled to $88 million, while average revenue per user (ARPU) climbed to $191, up 82% from last year.
Operating expenses rose 31% year-over-year to $639 million, reflecting higher marketing and development costs tied to new business lines. Still, Adjusted EBITDA surged 177% to $742 million, signaling robust profitability even amid rapid expansion.
Advancing products for active traders
Robinhood has increasingly shifted its focus toward active investors and advanced tools. During its second annual HOOD Summit in September, attended by over 900 people in person and 26 million viewers online, the company unveiled new trading products such as Robinhood Social, AI-powered scanners and indicators via Cortex, and support for multiple brokerage accounts and shorting.
The firm’s Prediction Markets Hub—launched earlier this year—has grown rapidly, with event contracts traded more than doubling in Q3 to 2.3 billion. In October alone, trading volume reached 2.5 billion contracts, surpassing the entire previous quarter.
Expanding globally through Bitstamp and new services
International expansion has become a major growth engine. Robinhood now has nearly 700,000 funded customers across the UK and EU, aided by its acquisition of Bitstamp, one of the world’s oldest crypto exchanges. Through Bitstamp, the company continues to attract institutional clients and expand its global crypto offerings.
In Europe, Robinhood launched crypto perpetual futures and doubled its Stock Tokens lineup to over 400. UK customers gained new access to AI-driven Cortex Digests for market insights and launched Futures trading, broadening Robinhood’s suite for global investors.
Q4 off to a fast start
Preliminary October data shows that momentum is carrying into the final quarter of the year. Net deposits totaled $5.5 billion, while margin balances topped $16 billion, up more than 150% year-over-year. Trading volumes across equities, options, futures, and prediction markets reached record levels, reflecting rising retail and institutional engagement.
Crypto trading also remained strong, with notional volumes exceeding $32 billion in October. Of that, $18 billion came from Bitstamp and $14 billion from the core Robinhood app, underscoring the growing synergy between the two platforms.
CFO transition and leadership update
CFO Jason Warnick announced plans to retire next year, transitioning from his current role in early 2026 but staying on as a strategic advisor through September 2026. Shiv Verma, a longtime member of Robinhood’s finance leadership team, will take over as CFO.
The company emphasized that the transition will be smooth, ensuring continuity as Robinhood scales its international operations and launches new business lines.
Market response and outlook
Robinhood’s stock rose more than 4% after hours, hovering around $142, after the company’s earnings topped estimates. Analysts have maintained a positive stance, with 18 “buy” or “strong buy” ratings, seven “holds,” and just one “sell.”
CEO Vlad Tenev has also remained active on social media, recently posting a poll asking users if Robinhood should offer a match incentive for those transferring Tesla ($TSLA) shares to its platform—highlighting the company’s continued focus on deepening user engagement and attracting more assets under custody.
Should we do a match for people moving their $TSLA shares over?
— Vlad Tenev (@vladtenev) November 4, 2025
Looking ahead, management raised its 2025 adjusted operating expenses and SBC outlook to around $2.28 billion, reflecting stronger business performance, higher bonus accruals, and new investments in Prediction Markets and Robinhood Ventures. Despite the larger budget, the company emphasized its goal of balancing growth with efficiency.
A turning point for Robinhood
With 11 business lines now each generating more than $100 million in annualized revenue, Robinhood’s evolution from a commission-free brokerage into a full-fledged financial platform is accelerating. Its growing mix of trading, advisory, banking, and crypto services suggests that the firm is no longer defined by a single product, but by a broader strategy of capturing every part of the modern investing ecosystem.
If the current pace continues, Robinhood could close 2025 not only as one of the fastest-growing financial companies in the U.S., but also as a dominant player in the emerging intersection of traditional finance, digital assets, and AI-driven trading innovation.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
