Robinhood Stock Falls After Q3 Earnings Miss: Why Didn't the Crypto Beat Help?

Robinhood (HOOD) shares fell nearly 4% in after-hours trading on Tuesday after the trading app earned 51 cents a share in the third quarter, short of the 56 cents analysts expected. Crypto revenue beat forecasts but did not stop the slide. The drop erased a 1.85% gain from regular trading, when the stock closed at $94.56. By 4:11 p.m. ET, shares changed hands at $90.90, a $3.66 loss per share for holders heading into Wednesday’s open. Why Did Robinhood Miss Profit Estimates? Revenue rose 12% from a year earlier to a record $1.42 billion, according to the company’s results , against the $1.44 billion Wall Street expected. Net income dropped 14% to $476 million.

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