(Finance) – Robinhoodpopular app for small investors and Nasdaq-listed company, has registered Net revenues down 43% to $ 299 million in the first quarter of 2022, compared to $ 522 million in the first quarter of 2021. The net loss for the period was $ 392 million, or $ 0.45 per share diluted, compared to a net loss of $ 1.4 billion, or $ 6.26 per diluted share in the first quarter of 2021. analystsAccording to Refinitiv data, they expected a loss of $ 0.36 on revenues of $ 355.8 million.
The monthly active users (MAU) decreased by 10% to 15.9 million in March 2022, compared to 17.7 million in March 2021, a period during which the company had experienced “high volumes of trading and account registrations, as well as high market volatility,” in particular in some sectors “. On a sequential basis, the MAU decreased by 8% from 17.3 million in December 2021. The sequential decline “was mainly attributable to users with lower balances, who are less involved in the current market environment,” says Robinhood. .
“We are seeing ours customers affected by the macroeconomic environmentwhich is reflected in our results this quarter – said Jason Warnick, Chief Financial Officer of Robinhood Markets – At the same time, we have also made progress on our long-term plans and continue to pursue them aggressively. “