Miss expectations: HOOD Q3 2021 Highlights
On October 26, $Robinhood(HOOD.US$ released its Q3 earnings that beats the estimates, and the management gives a pessimistic outlook, followed by a 10% drop in pre-market. Let's see the highlights that might affect its stock price.
Financial Highlights
Q3 revenue $364.9 million, up 35% year-on-year but drop from $565 million in Q2, missed Wall Street estimates of $423.9 million.
Q3 EPS -2.06 vs. -1.37 estimates.
Q3 EPS -2.06 vs. -1.37 estimates.
Among transaction-based revenues:
-Options increased 29% to $164 million, compared with $127 million in Q3 2020.
-Cryptocurrencies increased 860% to $51 million, compared to $5 million in Q3 2020.
-Equities decreased 27% to $50 million, compared with $69 million in Q3 2020.
Operating & Business Highlights
-Monthly Active Users (MAU) increased 76% YoY to 18.9 million vs. 21.3 million in Q2.
-Net Cumulative Funded Accounts increased 97% YoY to 22.4 million vs. 22.5 million in Q2.
-Assets Under Custody (AUC) increased 115%YoY to $95 billion vs. $102 billion in Q2.
-Average Revenues Per User (ARPU) $65, down 36% YoY, vs. $112 in Q2.
Outlook
-The company's annual revenue forecast of less than $1.8 billion vs. $2.03 billion estimates.
-Expect new funded accounts for the fourth quarter will be roughly in line with the 660,000 -opened in Q3 2021.
-Crypto activity declined from record highs in the prior quarter, leading to considerably fewer new accounts.
-Expect to recognize over a weighted-average period of 2.56 years.
What's your thought on HOOD Q3 earnings? Which way will the stock price go? Feel free to leave your comment below.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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JaketheVender : Man this is weak
JaketheVender : Time to buy the dip?
Johnnie Worker JaketheVender: Not until u truly understand what’s coming up next
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moom lives : Optimistic!When will Robinhood support retirement accounts like 401(k)s and IRAs?
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