Robinhood has its eyes on new products and new markets as it builds for the future.The stock trading and investing app is focused on winning the active trader market, increasing wallet share by deepening relationships with its existing customers, and continuing to expand internationally, Vlad Tenev, CEO and co-founder of Robinhood, said Tuesday (Feb. 13) during the company’s quarterly earnings call.“Reflecting on the past four years, we’ve tripled our customer base and grown revenues nearly seven times,” Te ...

Financial Data and Key Metrics Changes - The company reported a 37% increase in revenues to $1.9 billion for the full year 2023, with adjusted EBITDA reaching $536 million, more than three times the previous high [8][12] - Q4 net income was $30 million, with total net revenues increasing 1% sequentially to $471 million [31] - Adjusted EBITDA for Q4 was $133 million, up 62% from the previous year [10] Business Line Data and Key Metrics Changes - Gold subscribers increased by 25% year-over-year to 1.42 million, with an annualized recurring subscription revenue of $85 million [9][30] - Assets under custody surpassed $100 billion, with a 21% annualized net deposit growth in Q4 [30] - The company experienced a 14% increase in trading market share for equities and a 19% increase for options year-over-year [3] Market Data and Key Metrics Changes - January net deposits reached nearly $4 billion, the highest monthly total since the first half of 2021, with one-third being net positive transfers from other brokers [11] - The company reported strong engagement in crypto trading, with volumes nearly doubling in Q4 [134] Company Strategy and Development Direction - The company aims to win the active trader market by enhancing user experience and launching a more feature-rich professional offering [36] - Plans include increasing Gold memberships, launching new products like credit cards, and expanding internationally after recent launches in the UK and EU [14][36] - The company is focused on driving profitable growth and maximizing EPS and free cash flow per share in 2024 and beyond [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2024, citing strong momentum from net deposit growth and increased Gold adoption [11][12] - The company anticipates that declining interest rates will support growth in assets and trading activity [34] - Management emphasized the importance of continued investment in user experience and product offerings to maintain competitive advantage [40] Other Important Information - The company plans to manage diluted share count to 2% or less in 2024, following a nearly 5% decrease in 2023 [12] - The adjusted operating expenses for 2024 are projected to be between $1.85 billion and $1.95 billion, reflecting a 5% increase at the midpoint from the previous year [33] Q&A Session All Questions and Answers Question: What do you have in place to get your stock price back up? - The company is focused on driving value for shareholders through increased revenues and profits, with no current plans for dividends [39] Question: What will it take to get Robinhood to the next level to start competing with Fidelity? - The company is already competing effectively, with double-digit growth in trading market share and successful net asset transfers from major competitors [40] Question: Do you see Robinhood joining the S&P 500? - The company aims for consistent profitability and revenue growth, but joining the S&P 500 is ultimately a committee decision [41] Question: What kind of progress should we expect from the company in 2024? - The company is focused on improving user experience, expanding product offerings, and increasing international presence [42] Question: Can you talk about progress in terms of accounts and traction in the UK? - The company is seeing healthy initial traction in the UK and is focused on improving product offerings to meet customer expectations [67] Question: How do you see crypto contributing to your business in the next three to five years? - The company is investing significantly in crypto, aiming to bridge traditional finance and crypto, with a focus on enhancing user experience and market share [90]

Robinhood Markets, Inc. (HOOD) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 400%. A quarter ago, it was expected that this company would post a loss of $0.10 per share when it actually produced a loss of $0.09, delivering a surprise of 10%.Over the last four quarters, the com ...

By now, it’s obvious to everyone that we are in the midst of a rather strong bull market. Powered by the strength of tech, stocks have been climbing nearly continuously since October 2022. As a result, it should not be long before many high net worth investors put more money to work. What’s more, tens of thousands of retail investors will also probably follow suit soon. Many private firms are likely to start launching IPOs in order to exploit the strengthening stock market. This led us to write this article ...

Robinhood Markets Inc.’s stock roared more than 10% higher in the after-hours session Tuesday after the online trading platform swung to a quarterly profit and topped Wall Street expectations for its revenue, thanks to rising crypto deposits and more subscribers buying a premium service. Robinhood HOOD, -1.42% earned $30 million, or 3 cents a share, in the fourth quarter, contrasting with a loss of $166 million, or 19 cents a share, in the fourth quarter of 2022. Revenue rose 24% to $471 million, thanks in ...

Robinhood (NASDAQ:HOOD) stock jumped nearly 15% in after-market trading on Tuesday, Feb. 13 after the company announced better-than-expected Q4 earnings. The financial services platform reported that its quarterly revenue hit $471 million, beating Wall Street expectations of $456.8 million by 3.1%. This represented a 23.9% increase from $380 million in the previous fiscal year.Earnings per share (EPS) also surprised to the upside. The online brokerage notched EPS of 3 cents, beating expectations of a 1-cent ...

Robinhood Markets, Inc HOOD was trading slightly lower Tuesday as the company heads into its fourth-quarter earnings print after the close.When Robinhood printed mixed third-quarter results on Nov. 7, the stock plunged almost 14% lower the following day before bottoming out at $7.92 mark on Nov. 9 and Nov. 16. The subsequent bounce up off that level caused Robinhood to form a bullish double bottom pattern, which caused the stock to soar 70% between Nov. 16 and Dec. 27, where Robinhood peaked at $13.51.For t ...

Passive investing has become more popular than active investing in the U.S., but the trend may be changing soon, according to Jill Carey Hall, U.S. equity strategist at BofA Global Research.The amount of assets managed by passive funds have overtaken those overseen by active funds, according to data from BofA Global Research. Only 47% of assets under management in the U.S. are now overseen by active funds, down from 80% in 2009, the data shows.  BofA Global Research Active investing means buying and sel ...

FORT WORTH, Texas--(BUSINESS WIRE)--Today, Consensys, the leading blockchain and web3 software company, and Robinhood Markets, Inc (NASDAQ: HOOD), launched the integration of Robinhood Connect with MetaMask, the world’s leading self-custodial web3 wallet. Using MetaMask’s Buy Crypto feature, customers can now purchase crypto through Robinhood’s low cost order engine. The launch is part of MetaMask’s ongoing goal of supporting the adoption of web3 by providing more users with frictionless, secure, and self-c ...

Robinhood Markets, Inc. (HOOD) closed at $10.92 in the latest trading session, marking a +0.09% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw an increase of 1.74%.The the stock of company has fallen by 8.93% in the past month, lagging the Finance sector's gain of 0.61% and the S&P 500's gain of 2.93%.The investment community will be closely monitoring the perf ...