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Robinhood (HOOD) Tops Q3 EPS by 9c

November 2, 2022 4:09 PM EDT

Robinhood (NASDAQ: HOOD) reported Q3 EPS of ($0.20), $0.09 better than the analyst estimate of ($0.29). Revenue for the quarter came in at $361 million versus the consensus estimate of $355.59 million.

Financial Outlook:

  • As a result of the progress we have made on our cost reduction initiatives, including the reductions in force announced April 26, 2022 (the “April 2022 Restructuring”) and August 2, 2022 (the “August 2022 Restructuring”) we expect:
  • GAAP total operating expenses for full-year 2022 to be in the range of $2.34 billion to $2.40 billion, representing a decrease of approximately 31% to 32% from the prior year;
  • total operating expenses prior to share-based compensation for full-year 2022 to be in the range of $1.69 billion to $1.71 billion, representing a decrease of approximately 9% to 10% from the prior year. (These amounts include severance and other restructuring charges totaling $107 million in connection with the April 2022 Restructuring and the August 2022 Restructuring); and
  • share-based compensation for full-year 2022 to be in the range of $645 million to $685 million, representing a decrease of approximately 56% to 59% percent from the prior year. (These amounts include the benefit of share-based compensation net reversals totaling $77 million in connection with the April 2022 Restructuring and the August 2022 Restructuring).
  • Actual results might differ materially from our outlook due to several factors, including the rate of growth in net new funded accounts which affects several costs including variable marketing costs, the degree to which we are successful in preventing fraud, our ability to manage web-hosting expenses efficiently, and our ability to achieve productivity improvements in customer service, among other factors.

For earnings history and earnings-related data on Robinhood (HOOD) click here.



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