Robinhood shares fall 3.7% after disappointing Q3 earnings
- —EPS of $0.51 missed the $0.56 estimate; net income fell 14% to $476 million
- —Crypto revenue of $120 million beat forecasts but was down 55% year over year
- —Event contracts revenue surged more than sixfold to $173 million
- —Operating expenses rose 16% to $739 million; Gold subscribers hit a record 5.2 million
Why it matters: The results show Robinhood's crypto business losing momentum, with growth increasingly reliant on options and event contracts.
Source: BeInCrypto FR