Despite opening strong, Robinhood (NASDAQ:HOOD) stock has dipped just slightly into the red this morning. Yesterday, after the market closed, the securities broker reported stronger-than-expected secondquarter results. So, this morning's negative sentiments aside, here are five reasons for HOOD stock owners to feel bullish about the company's Q2 performance: The firm's top and bottom lines came in meaningfully above analysts' average estimates. Specifically, it generated Q2 revenue of $682 million, versus a ...

Shares of Robinhood (HOOD) gained 2.5% in after-hours trading in response to better-than-expected secondquarter 2024 results. Earnings per share of 21 cents handily surpassed the Zacks Consensus Estimate of 15 cents. Also, the figure compared favorably with 3 cents earned in the prior-year quarter. Results benefited substantially from the crypto-trading boom, higher net interest income and a jump in Gold subscribers. Also, the company witnessed improvement in Monthly Active Users (MAU). However, a rise in e ...

On Monday (Aug. 5), the platform powering 24-7 trading for brokers like Robinhood went offline. The platform, Blue Ocean, is the infrastructure provider responsible for executing stock trades between traditional market off hours, those falling between 8 p.m. and 4 a.m. (ET), and it was unable to effectively handle the surge in activity during the huge global selloff earlier this week as markets roiled. While the news was, ultimately, not ideal for Robinhood's users trying to get in on Monday's market action ...

Robinhood Markets, Inc. (HOOD) came out with quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.18, delivering a surprise of 260%. Over the last four quarters, the com ...

Financial Performance - Total net revenues increased 40% to $682 million compared to $486 million[153] - Net income was $188 million, or diluted EPS of $0.21, compared to $25 million, or $0.03 diluted EPS[153] - Adjusted EBITDA increased 99% to $301 million compared to $151 million[153] - Total net revenues for the three months ended June 30, 2024, reached $682 million, a 40% increase from $486 million in the same period of 2023[164] - The company reported a net income of $188 million for the three months ended June 30, 2024, compared to a net loss of $486 million in the same period of 2023[164] Customer Growth - Funded Customers increased 4% to 24.2 million compared to 23.2 million[154] - Gold Subscribers increased 61% to 1.98 million compared to 1.23 million[154] - The number of users placing cryptocurrency trades increased by 22% for the three months ended June 30, 2024, contributing to the rise in revenues[168] Assets and Deposits - Assets Under Custody (AUC) increased 57% to $139.7 billion compared to $88.8 billion[154] - Net Deposits were $13.2 billion, an annualized growth rate of 41% relative to AUC at the end of the first quarter of 2024[154] - Total interest-earning assets increased to $36,190 million as of June 30, 2024, up from $33,689 million as of March 31, 2024, representing a growth of 7.4%[173] Revenue Sources - Transaction-based revenues increased by $134 million (69%) for the three months ended June 30, 2024, driven by significant growth in cryptocurrencies and options[167] - Cryptocurrencies revenues surged by 161% for the three months ended June 30, 2024, totaling $81 million, compared to $31 million in the same period of 2023[168] - Net interest revenues for the three months ended June 30, 2024, were $285 million, a 22% increase from $234 million in the same period of 2023[171] - Gold subscription revenues rose by 44% to $26 million for the three months ended June 30, 2024, compared to $18 million in the same period of 2023[176] - Other revenues increased by 19% to $70 million for the three months ended June 30, 2024, up from $59 million in the same period of 2023[176] Operating Expenses - Operating expenses increased 6% to $493 million compared to $466 million[153] - Total operating expenses for the three months ended June 30, 2024, were $493 million, a 6% increase from $466 million in the same period of 2023[177] - Marketing expenses surged by 156% to $64 million for the three months ended June 30, 2024, compared to $25 million in the same period of 2023[177] - General and administrative expenses decreased by 16% to $134 million for the three months ended June 30, 2024, compared to $159 million in the same period of 2023[177] Cash and Liquidity - As of June 30, 2024, cash and cash equivalents were $4.52 billion, including a $750 million liquid investment portfolio[189] - The company had a total of $3.00 billion in committed revolving credit facilities and a borrowing amount up to $100 million for its Credit Card Funding Trust as of June 30, 2024[190] - The company believes its primary sources of liquidity will be adequate to meet current liquidity needs for the next 12 months[188] Risk Management - The company has established a comprehensive interest rate risk management policy to manage exposure to interest rate fluctuations[205] - The company has no outstanding borrowings under its credit facilities as of June 30, 2024, indicating limited financial exposure to interest rate changes[205] - The company's measurement of interest rate risk involves uncertain assumptions, which may lead to discrepancies between simulated and actual results due to various factors[206] - The company is indirectly exposed to equity securities risk related to margin receivables and securities lending activities[207] Commitments and Future Plans - The company is exploring potential strategic acquisitions to leverage existing capabilities and further build its business[187] - As of June 30, 2024, total cash commitments amount to $997 million, with $279 million due in the remainder of 2024 and $624 million due by 2025-2026[191] - Purchase commitments total $843 million, with $260 million due in the remainder of 2024[191]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Robinhood Markets, Inc. HOOD is set to release earnings results for its second quarter, before the opening bell on Aug. 7, 2024. Analysts expect the Menlo Park, California-based company to report quarterly earnings at 15 cents per share, up from 3 cents per share in the year-ago period. Robinhood is projected to report quarterly revenue of $643.34 million, according to data from Benzinga Pro. On Monday, Robinhood announced the suspension of its 24-hour trading service due to a problem at its thirdparty exec ...

Robinhood Markets, Inc. HOOD is reporting its Q2 earnings tomorrow morning. Analysts are looking for 15 cents per share. The shares appear to be breaking out ahead of this. This is why our team of trading experts has made it our Stock of the Day. When a stock is moving higher there isn't enough supply (sell orders) to fill all of the demand (buy orders). As a result, buyers are forced to pay premiums and this forces the shares into an uptrend. But if the stock reaches a resistance level the rally may revers ...

Group 1 - Robinhood Markets Inc (NASDAQ:HOOD) stock increased by 4.4% to $17.15 as Wall Street recovers from a selloff and Bitcoin rises [1] - The company is expected to report strong second-quarter earnings due to crypto trading and the resurgence of meme stocks [1] - Year-to-date, HOOD has a 33.2% gain and is rebounding from a pullback to its 200-day moving average, which provided support earlier in the year [2] Group 2 - The stock has experienced five declines in the past eight post-earnings sessions, including a 3.1% drop in May, but had a notable 13% increase after the February report [3] - Historically, shares have averaged a 7.3% price swing post-earnings, but current options pricing indicates a larger expected move of 18.8% [3] - Short-term options traders are showing bearish sentiment towards Robinhood, as indicated by a high put/call open interest ratio [3]

Wall Street analysts expect Robinhood Markets, Inc. (HOOD) to post quarterly earnings of $0.15 per share in its upcoming report, which indicates a year-over-year increase of 400%. Revenues are expected to be $629.75 million, up 29.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 12.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. Prior t ...