The financial service provider Robinhood became the focus of investors on Tuesday after the US stock market closed.
For Robinhood, the fourth fiscal quarter of 2023 ended with earnings per share of $0.03 after -$0.190 a year ago and analyst estimates of -$0.013 per share. The broker therefore performed better than expected.
Sales of $471 million were above analyst expectations of $454.7 million and above the previous year’s figure of $380.0 million.
For the year as a whole, Robinhood made a loss per share of $0.61; the previous year’s earnings per share had already been negative at -$1.170. Nevertheless, the company was able to reduce its loss significantly; analysts had previously expected Robinhood’s EPS to be -0.644 US dollars.
Sales in the reporting year were 1.87 billion US dollars, higher than expected (1.85 billion US dollars) and higher than the previous year (1.38 billion US dollars).
Robinhood shares were temporarily 15.96 percent stronger at $13.73 in pre-market trading on Wednesday on the NASDAQ.
Editorial team finanzen.net
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