Trading platform Robinhood Markets has reported third quarter revenues of US$1.27 billion, a 100% increase from the same period last year driven by trading activity in cryptocurrencies, options, and equities.
Net income rose to US$556 million, representing a year-on-year increase of 271%, while diluted earnings per share reached US$0.61, up 259% year-on-year.
Transaction-based revenue grew 129% to US$730 million, including cryptocurrencies at US$268 million (up 300%), options at US$304 million (up 50%), and equities at US$86 million (up 132%).
Net interest income escalated 66% to US$456 million, while other revenue doubled to US$88 million. Adjusted earnings before interest, taxes, depreciation and amortization reached US$742 million, rising 177%.
