Robinhood Crypto Volumes Double in Q3; October Number Set To Exceed Quarterly-Average At $5B, Says CFO
Posted On October 31, 2024
Robinhood Markets Inc. (NASDAQ:HOOD) reported a twofold surge in cryptocurrency volumes in the third quarter.
What Happened: The company released its financials after Wednesday’s closing bell and revealed a cryptocurrency notional trading volume of $14.4 billion, up 112% from last year.
Jason Warnick, Chief Financial Officer, said during the earnings call that notional volumes passed the $5 billion mark in October alone, and was set to surpass the third-quarter monthly average.
The surge in volumes helped power cryptocurrency-related revenue to $61 million, up 165% year-over-year.
The total quarterly revenue came in at $637 million, which missed the analyst consensus estimate of …
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