Robinhood Markets Inc (NASDAQ:HOOD), the US online trading platform, reported a 14% decline in quarterly net income as cryptocurrency revenue plunged 55%, overshadowing record sales and strong growth in options and prediction-market trading.

Shares of Robinhood dropped nearly 4% on Wednesday morning in New York.

Net income fell to $476 million in the third quarter, while diluted earnings per share dropped 16% to $0.51, below analysts’ expectations of $0.55. 

Total net revenue rose 12% year on year to a record $1.42 billion, while transaction-based revenue increased 19% to $867 million, supported by stronger activity in options and event contracts. 

Robinhood’s cryptocurrency revenue fell to $120 million as trading activity…