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Robinhood reports Q3 revenue up 12% YoY to $1.42B, in line with est., crypto revenue down 55% to $120M, and profit down 14% to $476M; HOOD drops 5%+ after hours (Reuters)

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In short

Robinhood reported a 12% increase in revenue for the third quarter, reaching $1.42 billion, which was in line with expectations. However, the company's cryptocurrency revenue fell by 55% to $120 million, contributing to a 14% decrease in profit to $476 million. The stock price of Robinhood Markets (HOOD.O) experienced a significant drop of 5% or more after the market close.

Key points

  • Robinhood reported a 12% increase in revenue for the third quarter, reaching $1.42 billio…: Robinhood reported a 12% increase in revenue for the third quarter, reaching $1.42 billion, which was in line with expectations.
  • However, the company's cryptocurrency revenue fell by 55% to $120 million, contributing t…: However, the company's cryptocurrency revenue fell by 55% to $120 million, contributing to a 14% decrease in profit to $476 million.
  • The stock price of Robinhood Markets (HOOD.O) experienced a significant drop of 5% or mor…: The stock price of Robinhood Markets (HOOD.O) experienced a significant drop of 5% or more after the market close.

Sources checked by our analysis pipeline: 1

Reuters : Robinhood reports Q3 revenue up 12% YoY to $1.42B, in line with est., crypto revenue down 55% to $120M, and profit down 14% to $476M; HOOD drops 5%+ after hours   —  Robinhood Markets (HOOD.O) reported a drop in third-quarter profit on Tuesday as slower cryptocurrency trading weighed on growth …

Original source: www.techmeme.com

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