Robinhood sales drop 43% as users leave
The brokerage has been adding a range of new products in an attempt to build up its user base
By
Paul Vigna
and
Jenna Telesca
Robinhood’s revenue fell to $299m in the first quarter, a decline of 43% from the same period last year and the company’s fifth consecutive quarterly drop.
The company narrowed its loss to $392m from a $1.4bn loss in the same period last year. Its stock fell 10% in aftermarket trading on 28 April.
