The post Robinhood Q3 Earnings Top Analysts’ Expectations as Crypto Revenue Surges Over 300% appeared on BitcoinEthereumNews.com. In brief Robinhood generated $1.2 billion in revenue in its third quarter. In its latest Robinhood note, investment bank Compass Point maintained a “buy” rating and boosted its price target to $161. Robinhood’s prediction markets are gaining traction in the U.S., but the firm is also looking to expand them to other countries. Robinhood Markets generated $1.2 billion in revenue for its third quarter, a nearly 100% gain from the same period a year ago, the firm announced Wednesday, exceeding analysts’ expectations and continuing the online brokerage’s strong top-line growth. Robinhood also surpassed forecasts with earnings per share of $0.61, a roughly 217% year-over-year rise, and $556 million in profits. “Our team’s relentless product velocity drove record business results in Q3 and we’re not slowing down—prediction markets are growing rapidly, Robinhood Banking is starting to roll out, and Robinhood Ventures is coming,” said Robinhood Chairman and CEOVlad Tenev, in a statement. In after-hours trading, Robinhood shares ticked down from their Wednesday closing price of $143.40, according to Yahoo Finance. The company’s stock price has skyrocketed about 260% year-to-date, outperforming crypto-native competitors like Coinbase, whose shares have jumped approximately 25% since January 1.  Menlo Park, California-based Robinhood’s results come as the company has expanded its business and crypto transaction revenues regained momentum, rising to $268 million—a more than 300% increase from a year ago, same period. Robinhood totaled $160 million for Q2 in this segment and $252 million in Q1. The company reported $730 million in transaction-based income, slightly lower than consensus predictions. Prediction markets, while still a lesser part of its business, were among the particular bright spots, generating more than $100 million in revenue. Separately, Robinhood announced that CFO Jason Warnick would retire next year. Shiv Verma, a seven-year veteran of the firm, will replace him. Last quarter,… The post Robinhood Q3 Earnings Top Analysts’ Expectations as Crypto Revenue Surges Over 300% appeared on BitcoinEthereumNews.com. In brief Robinhood generated $1.2 billion in revenue in its third quarter. In its latest Robinhood note, investment bank Compass Point maintained a “buy” rating and boosted its price target to $161. Robinhood’s prediction markets are gaining traction in the U.S., but the firm is also looking to expand them to other countries. Robinhood Markets generated $1.2 billion in revenue for its third quarter, a nearly 100% gain from the same period a year ago, the firm announced Wednesday, exceeding analysts’ expectations and continuing the online brokerage’s strong top-line growth. Robinhood also surpassed forecasts with earnings per share of $0.61, a roughly 217% year-over-year rise, and $556 million in profits. “Our team’s relentless product velocity drove record business results in Q3 and we’re not slowing down—prediction markets are growing rapidly, Robinhood Banking is starting to roll out, and Robinhood Ventures is coming,” said Robinhood Chairman and CEOVlad Tenev, in a statement. In after-hours trading, Robinhood shares ticked down from their Wednesday closing price of $143.40, according to Yahoo Finance. The company’s stock price has skyrocketed about 260% year-to-date, outperforming crypto-native competitors like Coinbase, whose shares have jumped approximately 25% since January 1.  Menlo Park, California-based Robinhood’s results come as the company has expanded its business and crypto transaction revenues regained momentum, rising to $268 million—a more than 300% increase from a year ago, same period. Robinhood totaled $160 million for Q2 in this segment and $252 million in Q1. The company reported $730 million in transaction-based income, slightly lower than consensus predictions. Prediction markets, while still a lesser part of its business, were among the particular bright spots, generating more than $100 million in revenue. Separately, Robinhood announced that CFO Jason Warnick would retire next year. Shiv Verma, a seven-year veteran of the firm, will replace him. Last quarter,…