Robinhood Logs a Record 16.4 Billion Event Contracts and Adds a 14th $100 Million Business Line

What happened

Robinhood customers traded a record 16.4 billion event contracts in the third quarter, more than seven times the year-earlier count and up from 13.6 billion in the second quarter, the brokerage reported after the market closed on Tuesday, Oct. Rothera , the prediction-market exchange that Robinhood’s joint venture with Susquehanna International Group launched in June, reached more than $100 million in annualized revenue in the third quarter, its first full quarter of operation.

Diluted earnings per share of $0.51 fell short of forecasts, while crypto revenue rose 20% from the prior quarter to $120 million but was down 55% from a year earlier. That made it the company’s 14th business line at that level.

More than 6.4 billion contracts have traded on Rothera since launch. Crypto revenue rose 20% to $120 million from $100 million in the second quarter but was down 55% from a year earlier.