Shares of Robinhood rose in extended trading Thursday afternoon after the retail brokerage announced stronger-than-expected first-quarter results.Robinhood reported 18 cents in earnings per share on $618 million of revenue. Analysts surveyed by LSEG were expecting the company to earn just 6 cents per share on $549 million in revenue.The company said the earnings and revenue numbers were both records for the firm. The stock jumped more than 4% in after hours trading.Robinhood surged in popularity during the ...

Robinhood Reports First Quarter 2024 Results Record Revenues of $618 million, up 40% year-over-year and Record GAAP Diluted EPS of $0.18 Record Net Deposits of $11.2B, including net positive transfers from every major incumbent brokerage firm • Total net revenues increased 40% year-over-year to $618 million. 1 ◦ Transaction-based revenues increased 59% year-over-year to $329 million, primarily driven by cryptocurrencies revenue of $126 million, up 232%, options revenue of $154 million, up 16%, and equities ...

Robinhood Markets, Inc. (HOOD) has received a notice from the Securities and Exchange Commission (SEC) that its crypto business — Robinhood Crypto — could face an enforcement action. The notice comes as a result of the violation of registrations as a securities broker and transfer agent.The regulator has argued that most tokens are subject to SEC rules. Thus, the platforms where they trade ought to be registered with the agency. The regulator relies on a test laid out in a 1946 Supreme Court case in order t ...

Robinhood’s cryptocurrency business could become the target of regulatory action.The trading platform said Monday (May 6) that it received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) staff indicating they will recommend that the commission take enforcement action against the company.“After years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,’ we are disappointed that the agency has decided to issue a Wel ...

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, ...

Key TakeawaysOnline trading platform Robinhood said Monday that it has received a Wells Notice from the SEC recommending enforcement against the company's cryptocurrency platform.The SEC previously took similar actions against Coinbase and Kraken for failing to register as broker-dealers and sale of crypto tokens considered unregistered securities.Robinhood said it has cooperated with the agency's investigations and previously received subpoenas, and vowed that its crypto platform is "here to stay." Robinho ...

The Robinhood logo is displayed on a smartphone with stock market percentages in the background.The Securities and Exchange Commission could soon pursue enforcement action against Robinhood, according to the trading firm.Robinhood disclosed in a filing Monday that over the weekend the regulator sent it a Wells Notice, a warning that upon completion of an investigation the company could be charged.Shares of the stock were last lower by 2% in premarket trading. ...

Robinhood Markets, Inc. (HOOD) is slated to report first-quarter 2024 results on May 8, after market close. Its earnings and revenues in the quarter are expected to have improved on a year-over-year basis.In the last reported quarter, Robinhood posted earnings against the Zacks Consensus Estimate of loss. Results reflected an increase in total net revenues and lower operating expenses.HOOD has an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in each of t ...

Robinhood (NASDAQ:HOOD) stock has made a nice come back this year, as investors bet on the company’s business model. Robinhood simplifies investing in stocks and cryptocurrencies online. In March, it had 23.6 million funded customers and $80.9 billion in trading volume, a 41% increase from last year.The platform’s cryptocurrency trading increased by 86% to reach $6.5 billion. If these numbers can continue, there’s certainly a lot to like about this stock’s potential. Of course, this is among the most closel ...

Robinhood Markets, Inc. (HOOD) closed the most recent trading day at $16.65, moving +0.97% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.33%.Shares of the company have depreciated by 14.12% over the course of the past month, underperforming the Finance sector's loss of 7.94% and the S&P 500's loss of 4.05%.The upcoming earnings release of Robinhood Markets, Inc. will be of ...