Robinhood Markets Q1 2022 Earnings Preview
Robinhood Markets (NASDAQ:HOOD) is scheduled to announce Q1 earnings results on Thursday, April 28th, after market close.
The consensus EPS Estimate is -$0.36 and the consensus Revenue Estimate is $357.21M
Over the last 3 months, EPS estimates have seen 0 upward revisions and 3 downward. Revenue estimates have seen 1 upward revision and 7 downward.
On Tuesday, HOOD announced that it would let go of 9% of its full-time employees, following a period of hyper-growth. CEO Vlad Tenev said the reduction of employees wouldn't slow the company's development efforts.
Earlier in the day, HOOD stock fell to a new low. It closed -4.9% at $9.51. It has lost ~46% YTD.
The stock and crypto trading app company in late January had guided softer-than-expected Q1 revenue, sending its shares sliding. Monthly active users as of Q4 2021 were 17.3M, an 8% fall from 18.9M at the end of Q3.
A year earlier in Q1 2021, HOOD had seen outsized revenue growth due to heightened trading activity spurred by the meme-stocks rally.
The company recently said that it would acquire Ziglu, a UK-based electronic money firm and crypto platform.
Last week, Morgan Stanley analyst Michael Cyprys outlined near-term challenges and said that lack of profitability was still a "key sticking point of concern for many."
Read a recent analysis: Robinhood: It's Time To Dive In For The Long Haul