Robinhood Profit Misses Estimates
Robinhood reported a third-quarter profit miss as slowing cryptocurrency trading and rising expenses offset strong growth in options and prediction markets. Shares fell 7 percent in after-hours trading following the announcement.
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Robinhood Markets posted a profit of 51 cents per share for the third quarter, missing analyst estimates of 55 cents. The earnings miss came as slower cryptocurrency trading overshadowed strong gains in options and prediction markets. Shares of the company fell 7% in after-hours trading following the announcement on Tuesday.
