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Earnings Results: Robinhood stock falls more than 8% as crypto trading dries up

Shares of Robinhood Markets Inc. fell more than 8% in the extended session Tuesday after the online trading platform reported a wider quarterly loss and lower-than-expected sales, saying lower crypto-related revenue led to “considerably fewer” new funded accounts and dragged quarterly revenue down.

Robinhood HOOD said it lost $1.32 billion, or $2.06 a share, in the third quarter, compared with a net loss of $11 million, or 5 cents a share, in the third quarter of 2020, and a FactSet consensus of a loss of 67 cents a share….

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