Over the course of the year, Robinhood's revenue grew by 14% to $361 million. However, the average monthly user count for the third quarter was just 1.2 million. It is worth noting that this number reached 12 million in the first 2 quarters. This led to the fact that the trade turnover fell by 12%.
Robinhood developers noted that the decline in performance may be due to market instability, as well as the threat of a financial recession. Based on this, investors decided to change strategies. As a result, it was possible to increase trading in options by 10%, and shares - by 7%. It is possible that investors used market volatility to their advantage.
It's worth noting that Robinhood paid out $9.9 million this summer to members who were affected by platform shutdowns in 2020.
Earlier it was reported that Polygon (MATIC) has started a partnership with Robinhood.
