Shares of Robinhood rose about 6% in postmarket trading Wednesday after the online brokerage reported record quarterly revenue and profits that topped Wall Street expectations.
The company posted net income of $157 million, or 18 cents a share, on revenue of $618 million. Analysts were expecting a profit of 6 cents per share on revenue of $553 million, according to FactSet consensus estimates.
Here are some highlights:
Total net revenue increased 40% year over year
Net interest revenue rose 22% to $254 million
Transaction-based revenue gained 59% to $329 million
Equity transaction revenue jumped 44% to $39 million
Crypto transaction revenue surged 232% to $126 million
Options transaction revenue increased 16% to $154 million
Monthly active users rose 16% to 13.7 million
Assets under custody jumped 65% to $129.6 billion
Net deposits were $11.2 billion, a quarterly record
The company earlier this week disclosed that it received a notice from the Securities and Exchange Commission saying the agency is preparing to recommend an enforcement action against its crypto unit over alleged violations of securities laws. Robinhood said it was disappointed by the notice and was prepared to contest the matter if necessary.
Robinhood’s stock is up about 40% this year as of Wednesday’s close.
The company posted net income of $157 million, or 18 cents a share, on revenue of $618 million. Analysts were expecting a profit of 6 cents per share on revenue of $553 million, according to FactSet consensus estimates.
Here are some highlights:
Total net revenue increased 40% year over year
Net interest revenue rose 22% to $254 million
Transaction-based revenue gained 59% to $329 million
Equity transaction revenue jumped 44% to $39 million
Crypto transaction revenue surged 232% to $126 million
Options transaction revenue increased 16% to $154 million
Monthly active users rose 16% to 13.7 million
Assets under custody jumped 65% to $129.6 billion
Net deposits were $11.2 billion, a quarterly record
The company earlier this week disclosed that it received a notice from the Securities and Exchange Commission saying the agency is preparing to recommend an enforcement action against its crypto unit over alleged violations of securities laws. Robinhood said it was disappointed by the notice and was prepared to contest the matter if necessary.
Robinhood’s stock is up about 40% this year as of Wednesday’s close.
