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Robinhood Markets Stock Is Ripping Higher Thursday: What's Going On?
Robinhood Markets Inc (NASDAQ:HOOD) shares are trading higher Thursday on the heels of the company’s second-quarter financial results.
What Happened: Robinhood reported second-quarter revenue of $682 million, beating analyst estimates of $643.34 million. The company reported adjusted earnings of 21 cents per share, beating analyst estimates of 15 cents per share, according to Benzinga Pro.
Total revenue was up 40% year-over-year. Transaction-based revenues were up 69% year-over-year, net interest revenues climbed 22% and other revenues jumped to $188 million, up from $25 million in the prior year’s quarter. ...