Story perspectives
Robinhood Shares Drop After Earnings Miss and Crypto Slump
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Story summary
- Robinhood Markets reported a quarterly profit miss, sending shares down about 5% after hours.
- Net income was $476 million, or 51 cents per share, missing the expected 56 cents.
- Transaction revenue rose 19% to $867 million, driven by six-fold event-contract growth.
- Crypto transaction revenue fell 55% to $120 million amid a year-long market slump.
- Expenses increased 16% to $739 million due to higher marketing and Trump Accounts.