Published , by Donovan Erskine
Published , by Donovan Erskine
Robinhood (HOOD) is one of the more interesting companies in the financial tech space, as its app is often an entryway to stock trading for a lot of new investors. The company itself is publicly traded and today released its latest earnings report. Robinhood’s Q3 2023 earnings tally saw the company miss on both revenue and earnings-per-share.
Robinhood’s Q3 2023 earnings report was posted after markets closed today. While Wall Street was projecting $478 million in revenue for the quarter, Robinhood ended up bringing in $467 million. As for earnings-per-share, Robinhood took a loss of $0.09, which is less than the expected loss of $0.10.
“It's been nearly 10 years since we founded Robinhood and we're just getting started. Over the past year, we’ve put a lot more value in products like Robinhood Gold including a 4.9% annual yield on cash and a 3% match on IRA contributions,” said Vlad Tenev, CEO and Co-Founder of Robinhood Markets. “Looking ahead, we remain focused on providing industry-leading products that serve far more of customers’ financial needs, gaining market share, expanding internationally, and continuing to change the industry for the better.”
Robinhood (HOOD) stock took an expected dip after the release of its less-than-ideal earnings report. The stock was valued as low as $8.86 after closing the day at $9.76. In other financial news today, Rivian, GoPro, and Corsair all reported results for the latest quarter.