00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Robinhood shares traded lower Thursday alongside the broader market despite strong fundamentals
00:07and earnings, according to Benzinga.
00:10The trading platform reported third-quarter revenue of $1.27 billion, doubling year-over-year
00:16and beating expectations.
00:19Transaction-based revenue rose sharply as crypto trading jumped more than 300 percent
00:24and options and equities activity increased.
00:27Robinhood's reached $0.61 per share, and the company reported a record $20 billion in
00:32net deposits, higher average revenue per user, and growing gold subscriptions.
00:38Robinhood is expanding into new businesses, with prediction markets and Robinhood crypto
00:42each pacing toward or above $100 million in annualized revenue.
00:47The firm is also testing new banking features, including at-home cash withdrawals through GoPuff.
00:53Shares fell as the broader market pulled back on rate and growth concerns.
00:57Robinhood shares closed down 8.61 percent at $121.53.
01:04For all things money, visit Benzinga.com.
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