• News

Robinhood (HOOD) Q1 2024 earnings results beat revenue and EPS expectations

Surprisingly enough, Robinhood's Q1 2024 earnings results showed beats against Wall Street estimations in key metrics.

TJ Denzer

May 8, 2024 2:00 PM

Image via Robinhood

1

Robinhood, despite issues in its business especially in regards to GameStop stocks in recent years, continues to seemingly remain a popular option for stock traders while being publicly traded itself. The company posted its Q1 2024 earnings results this week, and it looked like good news for the company. Robinhood was able to put up wins against Wall Street expectations, overcoming on both revenue and earnings-per-share (EPS).

Robinhood put up its Q1 2024 earnings results on its investor relations website this week. When it came to revenue, Robinhood put up a final tally of $618 million. That was more than enough to outdo Wall Street expectations that called for $549 million. Meanwhile, the EPS for Robinhood was expected by Wall Street to be $0.06 per share while the Whisper Number estimate was also set at $0.06 per share. Robinhood instead put up $0.18 per share, outdoing both estimates. Ultimately, it looks like it was a good Q1 for the company.

It's surprising to see that Robinhood has found some semblance of footing in 2024. The company became notorious during the GameStop short squeeze in 2020 when it artificially limited customers abilities to trade shares, resulting in the company being fined $70 million by the Financial Industry Regulatory Authority (FINRA). It hasn’t dodged issues in 2024 either, having been served an SEC Wells Notice regarding its crypto business earlier this week.

Regardless, it seems like Robinhood got out of its Q1 2024 with uncharacteristic wins under its belt. Stay tuned as we continue to follow other companies reporting on their latest fiscal earnings results.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.