Robinhood shares fall after Q3 earnings miss, crypto revenue beat insufficient to stem decline

Robinhood (HOOD) shares fell nearly 4% in after-hours trading on Tuesday after the company reported 51 cents per share in Q3, missing the 56-cent analyst estimate. While crypto revenue beat expectations at $120 million, it was 55% lower than a year earlier as crypto trading volume fell 38% to $50 billion. Net income dropped 14% to $476 million, and a $67 million paper loss on Robinhood Ventures Fund I wiped about 7 cents from the per-share result.