SoFi Posts $161.6M in Q3 Crypto Revenue as Robinhood's Crypto Business Falls 55% Year-Over-Year to $120M
SoFi reported SoFi Reports $161.6 Million in Q3 Crypto Revenue, $1.6 Million Net.
in gross crypto revenue for the third quarter, up Gross crypto revenue rose 20%, while total net revenue hit a record $1.39 billion.
from the prior quarter, according to The Block, which also said the company disclosed 503,000 crypto products for the first time. The Defiant put net crypto transaction revenue at SoFi Reports $161.6 Million in Q3 Crypto Revenue, $1.6 Million Net.
, a Net crypto transaction revenue rose 38% from Q2 but represented just 0.3% of the bank operator's financial-services segment revenue.
increase from the second quarter, though the segment made up just Net crypto transaction revenue rose 38% from Q2 but represented just 0.3% of the bank operator's financial-services segment revenue.
of SoFi’s financial-services revenue. SoFi’s total net revenue hit a record Gross crypto revenue rose 20%, while total net revenue hit a record $1.39 billion.
, per The Block.
Robinhood’s crypto business brought in Robinhood Chain Lifts Q3 Crypto Revenue to $120 Million.
in the third quarter, according to The Defiant, with its new Robinhood Chain network contributing The network contributed $26 million, offsetting a decline in crypto revenue elsewhere, while company-wide revenue and earnings fell short of MarketBeat's consensus.
that offset declines elsewhere in the crypto unit. The Block likewise reported the Chain’s $26 million contribution and a 20% rise in crypto revenue for the quarter. CoinDesk reported that Robinhood’s crypto revenue fell Robinhood's crypto revenue fell 55% from last year, but topped Street forecasts.
from a year earlier even as it beat Wall Street forecasts.
Robinhood posted record company-wide revenue of Robinhood posted record revenue of $1.42 billion but earned $0.51 per share, short of the $0.55 expected, as bets on sports and elections grew to $173 million and crypto edged up.
, Decrypt reported, but earnings of Robinhood posted record revenue of $1.42 billion but earned $0.51 per share, short of the $0.55 expected, as bets on sports and elections grew to $173 million and crypto edged up.
per share missed the Robinhood posted record revenue of $1.42 billion but earned $0.51 per share, short of the $0.55 expected, as bets on sports and elections grew to $173 million and crypto edged up.
analysts expected; The Defiant said the results fell short of MarketBeat’s consensus. Decrypt also noted that bets on sports and elections through Robinhood’s prediction markets grew to Robinhood posted record revenue of $1.42 billion but earned $0.51 per share, short of the $0.55 expected, as bets on sports and elections grew to $173 million and crypto edged up.
, a figure The Block corroborated. MarketWatch described Robinhood as having been “burned” by crypto even as retail traders bought the dip in chip stocks.
Sources: The Defiant, The Block, CoinDesk, Decrypt, MarketWatch
This article is for information only and is not financial advice.
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