Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: RSRS on October 28, 2021, 07:55:07 AM
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Robinhood had a net loss of $1.32 billion this past quarter, recording a plunge of 78% in revenue from crypto transactions from 2Q. Their shares dropped 12% to $34.80 at 9:46 a.m. in New York, $38 below the IPO price in late July, Bloomberg reported.
Analysts had estimated Robinhood Markets Inc. would have a total revenue of $423.9 million during an earlier Bloomberg survey, but the numbers fell short hitting only $364.9 million.
Vlad Tenev, Robinhood’s Chief Executive Officer, had predicted that the trading activity would tumble in the third quarter of 2021 and fewer accounts would open. As he stated during the Q3 Earnings Call, the tumbling numbers do not worry them since they have different short-term goals.
The fourth quarter might be falling short as their anticipation for Q4 is that “total revenue will be less than $325 million and full-year revenue will be less than $1.8 billion. At the top end, this implies full-year revenue growth of 85 percent.”, said Jason Warnick, Chief Financial Officer.
More Information (https://cryptonews.net/en/news/market/2412887/)