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, per MarketScreener.
“Our…
