“Robinhood drops 13% after reporting big declines in trading volume and revenue”
November 8, 2023
“…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…”