Robinhood Markets Third Quarter 2024 Earnings: Misses Expectations

Robinhood Markets (NASDAQ:HOOD) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$637.0m (up 36% from 3Q 2023).
• Net income: US$150.0m (up from US$85.0m loss in 3Q 2023).
• Profit margin: 24% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue.
• EPS: US$0.17 (up from US$0.095 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Robinhood Markets Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 3.4%.

Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are down 13% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Robinhood Markets' balance sheet and an in-depth analysis of the company's financial position.

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