Robinhood Markets (NASDAQ: HOOD) reported its third-quarter results after the market closed on Oct. 27, and performance in the period didn't thrill investors. The company reported non-GAAP (adjusted) earnings per share of $0.51 on sales of $1.42 billion, missing the average analyst estimate of earnings per share of $0.56 on sales of $1.43 billion. While the company's revenue was up 12% year over year to a new record high, earnings per share fell 3% from the prior-year period. The market wasn't thrilled with the quarterly print, but there were some bright spots. Notably, sales from the company's prediction market ventures increased more than sixfold annually to reach $173 million. The big growth helped offset a substantial decline for the company's cryptocurrency segment, which saw sales decline 55% year over year to reach $120 million. Are event contracts now central to Robinhood's growth story? Image source: Getty Images.
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