Business
ROBINHOOD SHARES FALL 8 PERCENT AS CRYPTO REVENUE DROPS 55 PERCENT
Robinhood shares fell about 8 percent in premarket trading after the company reported weaker than expected third quarter profit and a 55 percent decline in cryptocurrency revenue to $120 million. Earnings per share fell 16 percent to 51 cents, below Wall Street expectations of 55 cents. Bitcoin has declined nearly 28 percent over the past three months, weighing on crypto trading activity. Despite the weakness, Robinhood's total net revenue increased 12 percent to a record $1.42 billion as options, equities and prediction markets continued growing.
BigV•2h ago•1 min read