Robinhood shares drop below IPO price in after-market trading on crypto slowdown
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Robinhood (HOOD) Stock Dips 8% on Worse Than Expected Q3 Results as MAUs Drop, Equities Dip 27%, and Crypto Rises 860%
October 26, 2021 5:01 PM EDTRobinhood (NASDAQ: HOOD) stock fell over 8% after the company reported its Q3 results, with both EPS of ($2.06) and revenue of $365 million (up 35% year-over-year) missing the Street estimates of ($1.36) and $431.27 million, respectively.
Revenues from transactions, options, and cryptocurrencies grew 32%, 29%, 860% year-over-year, respectively, while equities decreased 27%. Cryptocurrencies revenue totaled $51 million in the quarter, eclipsing equities revenue of $50... More
