Oct 27 : Robinhood Markets missed Wall Street estimates for third-quarter profit on Tuesday, as slower cryptocurrency trading and higher expenses overshadowed strong activity in options and prediction markets.

Shares of the Menlo Park, California-based company fell 7 per cent in after-hours trading.

The trading platform’s transaction-based revenue from cryptocurrencies fell 55 per cent to $120 million from a year earlier.

Crypto markets have come under pressure this year amid heightened volatility and persistent outflows, as inflationary pressures and higher interest rates make bonds and other traditional investments more attractive than speculative assets.

Bitcoin, the world’s largest cryptocurrency, has fallen as much as 8 per cent year…