Robinhood’s revenue fell more than expected at year’s start

NEW YORK (AP) — Growth slammed into reverse at the start of this year for Robinhood Markets, whose trading app has turned millions of people into investors for the first time. The company said Thursday that it took in $299 million in revenue during the first three months of the year, down 43% from a year earlier. It also reported a net loss of $392 million. Both a drop in revenue and a net loss were expected for the quarter. But the results were worse than Wall Street analysts had forecast and shares fell more than 8% in after-hours trading.