Robinhood (NASDAQ:) shares jumped more than 6% following the market close on Wednesday after the company’s Q1 earnings and revenue topped analyst expectations.
The trading platform operator posted earnings per share (EPS) of $0.18 in Q1, surpassing consensus estimates of $0.05. Revenue came in at $618, exceeding the consensus projection of $543.14 million.
Average Revenue Per User (ARPU) grew 35% year-over-year to $104. Adjusted EBITDA (non-GAAP) rose 115% year-over-year to $247 million, Robinhood said.
For the full year of 2024, the company projects GAAP total operating expenses and non-GAAP adjusted operating expenses, including stock-based compensation, to fall between $1.85 billion and $1.95 billion
“We continued to aggressively execute on our product roadmap in Q1, leading to all-time highs for Net Deposits and Gold Subscribers,” said Vlad Tenev, CEO and co-founder of Robinhood.
“Q2 is off to a strong start with April being our highest month of the year for Net Deposits and Gold Subscriber growth, and we’re excited to see strong interest from over 1 million customers in our Robinhood Gold Card.”
Reacting to Q1 results, analysts at Mizuho said they were “as good as gold.”
“We could not have asked for a better 1Q,” they said.
Click Here to Read the Full Original Article at All News…
