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Robinhood Q3 revenue falls short on slowing trading activity

Investing.com -- Robinhood reported Tuesday mixed third-quarter results as  revenue fell short of Wall Street estimates amid a decline in users on the trading platform. 

Robinhood Markets Inc (NASDAQ:HOOD) fell 7% in afterhours trading following the report.

The company reported a loss of $0.09 per diluted share on revenue of $467 million. Analysts were expecting a loss of $0.10 per share on revenue of $480.06M.

The miss on the top line was driven by weakness in equities and cryptocurrency revenue, which declined 13% and 55% respectively in the Q3 from a year earlier

Monthly active users fell 16% to 10.3M year over year in Q3.

Looking ahead, total operating expenses for full-year 2023 is now expected be in the range of $2.399B to $2.439B, up from a prior forecast of $2.330B to $2.410B.

 

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.