Robinhood Markets Inc. announced on Tuesday that its revenue in the third quarter of the fiscal year 2023 observed an annual rise of 29% to reach $467 million. The company's net loss came in at $85 million, an improvement to the $175 million seen in the same period in 2022. Its diluted losses per share went from $0.20 year-on-year to $0.09 in the third trimester of this year. Additionally, Robinhood revealed that the number of monthly active users fell by 16% on an annual level to 10.3 million.
"Looking ahead, we remain focused on providing industry-leading products that serve far more of customers' financial needs, gaining market share, expanding internationally, and continuing to change the industry for the better," Chief Executive Officer (CEO) Vlad Tenev commented.
Following the release of the report, Robinhood's shares sank by 7.29% in after-hours trading.
