Robinhood (HOOD) Stock Dips 8% on Worse Than Expected Q3 Results as MAUs Drop, Equities Dip 27%, and Crypto Rises 860%
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Robinhood shares drop below IPO price in after-market trading on crypto slowdown
October 26, 2021 4:13 PM EDTBy John McCrank and Noor Zainab Hussain
(Reuters) -Robinhood Markets Inc's shares fell below their initial public offering price in after-hours trading on Tuesday after the retail broker reported softer revenue than expected for the third quarter as trading levels declined for cryptocurrencies like dogecoin.
Shares of Robinhood were down 8.77% at $36.10 following the release of the results, below the $38 they were priced at in the Menlo Park, California-based company's July IPO and well below the $85 they hit in August.
... MoreRobinhood (HOOD) Misses Q3 EPS by 70c, Revenues Miss
October 26, 2021 4:04 PM EDTRobinhood (NASDAQ: HOOD) reported Q3 EPS of ($2.06), $0.70 worse than the analyst estimate of ($1.36). Revenue for the quarter came in at $365 million versus the consensus estimate of $431.27 million.
"This quarter was about developing more products and services for our customers, including crypto wallets,"... More
Robinhood (HOOD) Reports Q3 Revenue of $365M; Net Loss of $1.32B or $2.06/sh
October 26, 2021 4:03 PM EDTRobinhood Markets, Inc. (Robinhood) (NASDAQ: HOOD) today announced financial results for the third quarter ended September 30, 2021.
Total net revenues increased 35% to $365 million, compared with $270 million in the third quarter of 2020.Transaction-based revenues increased 32% to $267 million, compared with $202 million in the third quarter of 2020.Options increased 29% to $164 million, compared with $127 million in the third quarter of... More
