Robinhood reported a drop in third-quarter revenue but also a narrower loss on Wednesday, in a sign that it might be stabilizing its business as it attempts to recover from a staggering drop in the stock and crypto trading activity that fueled its growth.

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The company’s shares rose in after-hours trading. Robinhood posted a loss of 20 cents a share on revenue of $361 million, compared to a loss of $2.06 a share on revenue of $365 million in the year-ago quarter.

Financial analysts had expected a loss of 33 cents a share on revenue of $372 million, according to Zacks.

But the company said its adjusted earnings were $47 million, up $127 million from the second quarter.

Robinhood reported a 12% sequential decline in operating expenses, in an apparent sign that recent cost-cutting measures, including major layoffs, are paying off. Revenue actually rose 14% from the previous quarter.

But the company’s crypto business, an area on which Robinhood had increasingly focused, remains sluggish. Transaction-based revenue for crypto fell 12% sequentially to $51 million.

Still, CEO Vlad Tenev said the company “achieved our goal of reaching adjusted EBITDA profitability, a quarter earlier than planned.”

Robinhood has been reeling from increasingly downbeat views of its ability to become profitable more than a year after its IPO.

The economic downturn has hurt its ability to attract more users, which remains a problem. The company said its monthly active users fell 1.8 million sequentially to 12.2 million in September “as customers continued to navigate the volatile market environment.”