Robinhood (HOOD) Tops Q3 EPS, Revenues Miss

Robinhood (NASDAQ: HOOD) reported Q3 EPS of ($0.09), $0.01 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $467 million versus the consensus estimate of $480.06 million.

GUIDANCE:

Based on our Q3 2023 results, our expense outlook for 2023 has changed from our prior outlook at Q2 2023 earnings (August 2, 2023). We now expect:

• GAAP total operating expenses for full-year 2023 to be in the range of $2.399 billion to $2.439 billion (including a $104 million regulatory accrual in Q3 2023), updated from our prior outlook of $2.330 billion to $2.410 billion.
• Adjusted Operating Expenses for full-year 2023 to be in the range of $1.435 billion to $1.455 billion, an improvement of $5 million from the midpoint from our prior outlook (previously operating expenses prior to SBC) of $1.430 billion to $1.470 billion.
• SBC for full-year 2023 (including the 2021 Founders Award Cancellation of $485 million in Q1 2023) to be in the range of $860 million to $880 million, an improvement of $50 million at the midpoint of the range from our prior outlook of $900 million to $940 million.

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

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