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Robinhood slashes costs by 69% after layoff rounds
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fnlondon.comNet losses at Robinhood fell in the third quarter after a steep drop in expenses helped offset declining revenue and lower user numbers.
The online broker reported third quarter revenue of $361m, a year-over-year decrease of 1% and a seventh consecutive quarterly drop. Rising interest rates helped lift quarterly net interest revenue to $128m, more than doubling from the same period a year ago.
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