Robinhood earnings miss Street expectations, shares tumble 11 per cent

third-quarter earnings fell short of expectations on Wednesday, a miss it attributed to an accounting quirk related to incentives that the company said Wall Street analysts had overlooked, sending its shares down 11 per cent after the bell.

“The match promotion dollars are recorded as an offset to revenue, and it looks like analysts just were not factoring that in enough for the quarter.” Warnick said, adding that contra revenue rose $14-million sequentially. Meanwhile, Robinhood saw a surge in trading volumes as heightened market activity and volatility sent mom-and-pop investors into the online commission-free brokerage .

Robinhood’s equity and crypto trading volumes jumped 65 per cent and 112 per cent in the quarter, respectively. Options contracts traded surged 47 per cent.

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

How Robinhood could take market share from brokerages like SchwabRobinhood (HOOD) has announced the launch of a desktop platform and added futures and options trading to the app as it seeks to expand its platform and...
ソース: YahooFinanceCA - 🏆 47. / 63 続きを読む »