Company plans to launch a brokerage in the U.K. and crypto trading in the European Union ‘in the coming weeks’
Shares of Robinhood Markets Inc. fell after hours on Tuesday after the trading app reported revenue that missed expectations, as benefits from higher interest rates ran up against a drop in active users and muted trading activity.
But equities-trading revenue fell 13% to $27 million, while revenue from crypto trades tumbled 55% to $23 million. Options revenue was unchanged at $124 million. Monthly active users fell 16% to 10.3 million. Robinhood also faces concerns about the return of student-loan payments after a pandemic-era pause and the impact of higher interest rates on borrowing, investing and spending.
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