Robinhood Markets reported third-quarter revenue of $1.42 billion, a 12% increase year-over-year, driven by strong growth in transaction-based revenues and net deposits of $16 billion. Despite the top-line growth, diluted earnings per share declined 16% to $0.51 due to higher operating expenses and unrealized losses from Robinhood Ventures Fund I. Adjusted EPS decreased 3% year-over-year to $0.60. The company also announced a revision to its non-GAAP financial presentation for income tax effects, which does not impact GAAP results. Robinhood operates in the retail brokerage and financial services industry.
