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 …
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)
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.