Robinhood Shares Fall 8.2% Premarket After Q3 Earnings Miss
Photo: TokenPost
Robinhood Markets shares traded at $86.84, down 8.16% from Tuesday’s regular-session close, in premarket trading at 4:35 a.m. ET (08:35 UTC) Wednesday after its third-quarter results showed lower profit and a steep drop in crypto revenue. The stock had closed at $94.56 on Oct. 27. Robinhood released results after the market close for the quarter ended Sept. 30. Net revenue increased 12% year over year to $1.424 billion, but net income declined 14% to $476 million. Diluted earnings per share fell 16% to $0.51, below the $0.55 analyst estimate.
Also reported by The Cryptonomist.
Source: TokenPost
