Robinhood reports Q3 EPS 61c, consensus 54c

Reports Q3 revenue $1.27B, consensus $1.22B. “Our team’s relentless product velocity drove record business results in Q3 and we’re not slowing down- Prediction Markets are growing rapidly, Robinhood (HOOD) Banking is starting to roll out, and Robinhood Ventures is coming,” said Vlad Tenev, Chairman and CEO of Robinhood. Transaction-based revenues increased 129% year-over-year to $730 million, primarily driven by cryptocurrencies revenue of $268 million, up over 300%, options revenue of $304 million, up 50%, and equities revenue of $86 million, up 132%. Net interest revenues increased 66% year-over-year to $456 million, primarily driven by growth in interest-earning assets and securities lending activity, partially offset by lower short-term interest rates. Average Revenue Per User increased 82% year-over-year to $191.