Why Robinhood Stock Hit the Bullseye Today
Robinhood Markets (NASDAQ: HOOD) stock soared 12.5% through 11 a.m. ET Thursday after crushing its Q4 earnings report last night.Analysts thought the online brokerage app would earn $0.52 per share in its fourth quarter of fiscal 2024, but Robinhood nearly doubled that number at $1.01 per share. Sales were expected to land at $951.8 million, but the company reported more than $1 billion in sales, more than a 100% increase. Robinhood sales grew 115% year over year in Q4, with gains from interest on its holdings up 25%, and "transaction-based" (trading) revenue up more than 200%. As good as the revenue growth sounds, "net income increased over 10X," boasted Robinhood. Continue reading
Robinhood Markets (NASDAQ: HOOD) stock soared 12.5% through 11 a.m. ET Thursday after crushing its Q4 earnings report last night.
Analysts thought the online brokerage app would earn $0.52 per share in its fourth quarter of fiscal 2024, but Robinhood nearly doubled that number at $1.01 per share. Sales were expected to land at $951.8 million, but the company reported more than $1 billion in sales, more than a 100% increase.
Robinhood sales grew 115% year over year in Q4, with gains from interest on its holdings up 25%, and "transaction-based" (trading) revenue up more than 200%. As good as the revenue growth sounds, "net income increased over 10X," boasted Robinhood.
