Net deposits also hit an all-time high of $20.4 billion, while Robinhood Gold subscribers climbed 77 percent to a record 3.9 million.
“Our team’s relentless product velocity drove record business results in Q3 and we’re not slowing down,” said CEO Vlad Tenev. “Prediction Markets are growing rapidly, Robinhood Banking is starting to roll out, and Robinhood Ventures is coming.”
The company’s net income surged 271 percent to $556 million, while diluted earnings per share rose 259 percent to $0.61.
Transaction-based revenues increased 129 percent to $730 million, led by a more than 300 percent rise in cryptocurrency trading revenue.
Robinhood’s total platform assets rose 119 percent year-over-year to $333 billion, reflecting continued user growth and higher market valuations.
The firm now has 11 business lines each generating about $100 million or more in annualised revenue.
Chief Financial Officer Jason Warnick said October had started strongly, with record trading volumes across equities, options, prediction markets and futures.
He also announced plans to retire next year, with longtime finance executive Shiv Verma set to take over as CFO.
