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“Robinhood drops 13% after reporting big declines in trading volume and revenue”

“…Robinhood also reported fewer monthly active users, which fell 16% to 10.3 million in the third quarter from the same period last year.

Although third-quarter revenue rose 29% to $467 million, it fell short of the $480 million analysts were predicting. Its net loss narrowed to $85 million, or 9 cents a share, and topped Wall Street’s expectations.

Revenue was hurt by a 13% decline in third-quarter transaction revenue tied to stock trading, compared with the same period last year. Crypto trading dropped 55% year-over-year. Options trading was unchanged. That translated to an overall decline of 11% in its transaction-based revenue…”

https://www.cnbc.com/2023/11/08/robinhood-shares-drop-7percent-after-reporting-big-declines-trading-revenue.html

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