Shares of Robinhood rose after hours after the company reported a narrower-than-expected loss. $HOOD reported a net loss of $175 million, or 20 cents a share, compared with $1.32 billion, or $2.06 a share, in the prior-year quarter:
Shares of Robinhood Markets Inc. HOOD, -4.36% rose after hours on Wednesday after the popular stock-trading app reported a narrower-than-expected loss and forecast lower expenses, even as active users turn away from the platform amid rising prices and recession fears.
Net cumulative funded accounts — or accounts into which users put money or other assets — came in at 22.9 million, up 60,000 sequentially. Monthly active users for September came in at 12.2 million, a sequential drop of 1.8 million, “as customers continued to navigate the volatile market environment.”
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