Reported about 23 hours ago
Robinhood's stock fell by 7% following the announcement of its third-quarter earnings, which exceeded forecasts with a 100% revenue increase to $1.27 billion. The drop was attributed to higher-than-expected operating expenses and missed crypto revenue projections. The company also revealed a CFO transition set for early next year. Despite this, shares are up 280% year-to-date, driven by significant growth in transaction-based revenues and new product launches, including prediction markets.
Source: YAHOO