TechFlow reported, according to Bloomberg, Robinhood's third-quarter financial results showed a net revenue of $467 million, below the average analyst expectation of $478.9 million, but up 29% year-on-year. Transaction-based revenue was $185 million, down 11% compared to the same period last year, primarily due to a 55% year-on-year decline in cryptocurrency order flow volume, which fell to $23 million.
In a statement, Robinhood said that as part of its global expansion, it plans to launch cryptocurrency trading in the European Union and brokerage services in the UK within the coming weeks.
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