3, but released it a day earlier after publishing a blog post about job cuts and restructuring. It was originally scheduled to report earnings on Aug. Stripping out restructuring charges, Robinhood reported a loss of 32 cents per share, according to Refinitiv IBES data. The company had a net loss of $295 million. Robin Hood said the restructuring would cost the firm between $30m and $40m. Robin Hood’s total operating expenses for the second quarter rose 22 percent over the same period last year. It will also change its organizational structure to drive greater cost discipline. The company said it would begin another round of layoffs of 780 employees, down from 9 percent of full-time staff laid off earlier this year.

Compared to $565m, according to a filing with the US Securities and Exchange Commission. The Menlo Park, Calif.-based brokerage posted net income of $318m in the second quarter ended June 30 as revenue from equity, options and crypto trading more than halved from a year earlier.

The app-based brokerage laid off 23 percent of its staff as it posted a 44 percent drop in revenue on lower trading activity, in an earnings announcement on Tuesday that came a day ahead of schedule and analysts. is cutting about a quarter of its staff as a pandemic slows the business boom. Robin Hood reduced staff as the trading boom waned

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