Robinhood Misses Q3 Earnings as Crypto Revenue Rises and Prediction Market Bets Grow
Summary
Robinhood reported third quarter earnings per share below Wall Street expectations despite generating record revenue. Growth was supported by an increase in cryptocurrency revenue and rising activity within prediction market betting.
Robinhood posted record revenue of $1.42 billion but earned $0.51 per share, short of the $0.55 expected, as bets on sports and elections grew to $173 million and crypto edged up.
Source: Read the full story at Decrypt
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