HOOD Earnings: Robinhood Surges amid Solid Q1 Results - TipRanks.com

Shares of Robinhood (NASDAQ:HOOD) surged in after-hours trading after the financial services platform reported earnings for its first quarter of Fiscal Year 2024. Earnings per share came in at $0.18, which beat analysts’ consensus estimate of $0.06 per share. Sales increased by 40.1% year-over-year, with revenue hitting $618. This beat analysts’ expectations of $555 million. This growth was primarily driven by a growth in interest-earning assets, higher short-term rates, and an increase in transactions. Specifically, the recent hype around cryptocurrencies …