In crypto trading alone, Robinhood's transaction-related revenue fell to $51 million from $233 million in the spring, though that was still up sharply from $5 million a year earlier. That's down from $112 three months earlier and from $102 a year earlier. That meant Robinhood made an average of $65 in revenue from each of its users. But the third quarter didn’t feature a market frenzy like the second quarter’s surge for dogecoin and other cryptocurrencies or the first quarter’s “meme stock” craze. Robinhood's business does best when markets are volatile and its customers are making lots of trades. Revenue rose to $364.9 million from $269.5 million. A shade more than $1 billion of the loss was related to stock-based compensation expenses it recognized with its initial public offering of stock. Robinhood's loss for the quarter totaled $1.32 billion, or $2.06 per share, compared with a loss of $10.7 million, or 5 cents per share, a year earlier.
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