Robinhood Delivers Big Earnings Beat Driven by Booming Crypto Trading: Analysts

earnings yesterday as a surge in crypto trading fueled a 40% year-on-year jump in revenue, leading some analysts to upgrade their earnings estimates and price targets.

A “solid beat in the quarter to us and consensus as stronger than expected crypto trading revenues drove earnings per share higher, with lower expenses also contributing a penny to the $0.05 adjusted earnings before interest, taxes, depreciation and amortization beat,” KBW analysts led by Kyle Voigt wrote.Two other key takeaways were the strong reception by customers to new products such as the platform’s Gold Card, and the business’ EBITDA margin expansion, KBW said.

The popular trading platform added 500,000 new accounts in the quarter, more than in all of last year and the highest quarter for new accounts since first-quarter 2022, JMP said. Positive momentum has continued, with a record $5 billion in deposits in April versus the monthly average of $3.7 billion in the first quarter, the broker noted.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Robinhood posts Q1 earnings beat, sees 224% increase in crypto trading volumeThe commission-free brokerage firm reported record earnings, led by a strong increase in crypto trading.
Источник: TheBlock__ - 🏆 464. / 53 Прочитайте больше »

Robinhood climbs after reporting record earnings for first quarterShares of the brokerage firm rose after first-quarter results topped Wall Street expectations.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »

Apple Earnings Preview: Low Bar Could Set the Stage for Post-Earnings RallyStocks Analysis by Investing.com (David Wagner) covering: Apple Inc, Tesla Inc. Read Investing.com (David Wagner)'s latest article on Investing.com
Источник: Investingcom - 🏆 450. / 53 Прочитайте больше »

Earnings playbook: Beware of these stocks reporting soon where analysts are slashing their earnings expectationsThese names have seen big drops in what analysts expect them to report for earnings.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »

Rihanna Net Worth 2024: Fenty Beauty Earnings, 'Black Panther 2' EarningsRihanna's net worth in 2024 reveals her 'Black Panther 2' salary and how much she makes from Fenty Beauty, Savage x Fenty and her music career.
Источник: StyleCaster - 🏆 104. / 63 Прочитайте больше »

What is Earnings Season & What to Look for in Earnings Reports?Learn about earnings season and when it occurs, what to look for in earnings reports, and top tips for trading the period.
Источник: DailyFX - 🏆 305. / 63 Прочитайте больше »