Robinhood Markets Inc increased 13% to $10.42 after the online brokerage for stocks, derivatives, and crypto-currencies said it plans to layoff 23% of its staff, after cutting its staff by 9% in April.  

Second quarter revenues declined 44% to $318 million from $565 million and net loss shrank 44% to $295 million from $502 million a year ago. 

Diluted loss per share fell to 34 cents from $2.16 a year ago. 

On a sequential basis, monthly active users declined 1.9 million to 14.0 million and assets under custody plunged 31% to $64.2 billion but average revenues per user increased to $56 from $53.