Robinhood Delivers Q3 Beat

It's Benzinga, bringing Wall Street to Main Street. Robinhood Markets reported third-quarter adjusted earnings of $0.60 per share, beating estimates of $0.56, according to data from BenzingaPro. Revenue rose 12% year-over-year to a quarterly record $1.424 billion, topping expectations of $1.422 billion. Transaction-based revenue increased 19% to $867 million, driven by growth in event contracts, options, and equities, while cryptocurrency revenue fell 55%. Other revenue rose 61% year-over-year to $142 million, primarily driven by Trump account service revenues and increased Robinhood Gold subscription revenues. The company narrowed its 2024 adjusted operating expenses and share-based compensation outlook to $2.675 billion to $2.75 billion, citing efficiency gains. Shares fell 3.8% to 90.95 in after-hours trading Tuesday. For all things money, visit Benzinga.com.