Robinhood's earnings weren't great, but they didn't deserve the market's reaction.
Robinhood Markets (HOOD) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Shares in Robinhood Markets (HOOD) plunged Thursday after the online brokerage missed Wall Street's quarterly revenue expectations due to a customer promotion program.
Robinhood Markets Inc (NASDAQ:HOOD) sunk over 15% on Thursday after reporting incentives aimed at drawing in customers had eaten into revenue over the third quarter. Matches on asset transfers and individual retirement arrangement (IRA) contributions caused a $27 million reduction in revenue over the quarter, the company said in results.
CNBC's Kate Rooney joins 'Squawk on the Street' to discuss Robinhood earnings.
Robinhood Markets (HOOD) shares sank 15% Thursday, a day after the online brokerage posted worse-than-expected results as a promotion to get more customers impacted performance.
In its third quarter earnings, trading platform Robinhood Markets (HOOD) fell short of revenue estimates ($637 million vs. the $663.5 million that was expected) while posting adjusted earnings of $0.17 per share, just one cent shy of estimates of $0.18.
Shares of Robinhood Markets fell nearly 11% before the market open on Thursday after more than doubling in value this year, as incentives aimed to attract customer assets hurt third-quarter results.
Although the revenue and EPS for Robinhood Markets (HOOD) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Robinhood Markets, Inc. (NASDAQ:HOOD ) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Chris Koegel - VP of Corporate, FP&A and IR Vlad Tenev - CEO and Co-Founder Jason Warnick - CFO Conference Call Participants Craig Siegenthaler - Bank of America Merrill Lynch Dan Dolev - Mizuho Patrick Moley - Piper Sandler Brian Bedell - Deutsche Bank Devin Ryan - Citizen JMP Benjamin Budish - Barclays John Todaro - Needham and Company Steven Chubak - Wolfe Advisor Andrew Stein - FT Partners Operator Thank you for standing by. My name is Catherine and I will be your conference operator today.
Robinhood Markets has made its name as a place for younger investors to day trade meme stocks, crypto and options on their phones. And on Wednesday's (Oct.
Robinhood Markets, Inc. (HOOD) came out with quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to loss of $0.09 per share a year ago.