Robinhood quarterly profit falls as softer crypto activity outweighs robust trading

What happened: Robinhood Markets reported a drop in third-quarter profit as slower cryptocurrency trading weighed on growth, despite robust trading activity across other asset classes. Key numbers: Profit of $476 million, or 51 cents per share, for the quarter ended September 30, versus $556 million, or 61 cents per share, a year earlier. Why it matters: Softer crypto activity weighed on growth even as trading in other asset classes stayed robust, showing crypto results can offset strength elsewhere.

Robinhood Markets reported a drop in third-quarter profit as slower cryptocurrency trading weighed on growth, despite robust trading activity across other asset classes.

Softer crypto activity weighed on growth even as trading in other asset classes stayed robust, showing crypto results can offset strength elsewhere.