Firm that specializes in retail brokerage RobinhoodThe company’s first quarter results were released on Thursday. It showed an increase in revenue and a loss that was greater than expected.

Based on an analysis of Wall Street analysts, here’s the report from the company.

• Losses per share: 45 cents vs. 36 cents expected
• Revenue: $299 million vs. $355.8 million expected

Robinhood reported that Robinhood’s monthly active users fell to 15.9million, down from 17.7million in the prior year and 17.3million in the quarter before. Average revenue per user was $53, down from $137 in the year before and $64 during the quarter.

The shares fell more than 8% after-hours. Stock trading is at an all-time low.

Robinhood faced some difficult comparisons during the first quarter. An year ago, trading was strong in GameStopIt also included other meme stocks that helped to fuel its rapid growth. 

Year-over-year, net revenue fell 43%. The net loss of $392 million was less than the $1.4billion loss recorded in the first quarter 2021.

Robinhood launched new products and features to boost its revenues. In March, the company declared that they had acquired expanded extended trading hours.

Robinhood also monitors its expenses. On Tuesday, Robinhood said it will cut its full-time workforce by about 9%For the layoffs, they cited “duplicate jobs and job functions.” 

It was the second consecutive quarter with declining usage. In the fourth quarter,Robinhood’s monthly users declined to 17.3 Million, in contrast to the third quarter. Meanwhile, net cumulatively funded accounts increased by 1%, to 22.7 millions. 

The net cumulative funding accounts ticked up at 22.8 Million in the first quarter.

Robinhood was listed on July 20, 2021 for $38 per share. However, the stock is struggling to gain traction. The stock was only trading at $10 per share Thursday.