Market News
← Back to Home

Robinhood quarterly profit falls as softer crypto activity outweighs robust trading

Reuters
Robinhood quarterly profit falls as softer crypto activity outweighs robust trading

Oct 27 (Reuters) - ‌Robinhood Markets reported a ​drop ‌in third-quarter profit ‌on Tuesday as slower ‌cryptocurrency trading weighed on growth, despite robust trading ⁠activity across ‌other asset ⁠classes.

The Menlo Park, ​California-based company posted a profit ​of $476 million, ​or ‌51 cents per ​share, for ⁠the three ‌months ended ​September ​30, compared with $556 million, or 61 cents per ‌share, a year earlier.

(Reporting by ‌Prakhar ​Srivastava and Rishab Shaju in Bengaluru; Editing ‌by Diti Pujara)