Shares of Robinhood Markets Inc. fell after hours on Tuesday after the trading app reported revenue that missed expectations, as benefits from higher interest rates ran up against a drop in active users and muted trading activity.
But equities-trading revenue fell 13% to $27 million, while revenue from crypto trades tumbled 55% to $23 million. Options revenue was unchanged at $124 million. Monthly active users fell 16% to 10.3 million. Robinhood also faces concerns about the return of student-loan payments after a pandemic-era pause and the impact of higher interest rates on borrowing, investing and spending.
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