Current Events > Robinhood posts $423 million net loss, shares sink after hours

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WingsOfGood
01/28/22 10:12:50 AM
#1:


https://www.cnn.com/2022/01/27/business/robinhood-earnings/index.html

Commission-free brokerage Robinhood Markets Inc on Thursday posted a $423 million net loss in the latest quarter, and its shares tumbled as much as 15% in after-hours trade even as revenue edged past analysts' estimates.
Robinhood reported a net loss of $423 million or $0.49 per share in the three months ended December. A year earlier, which was before its IPO, the company posted net income of $7 million or $0.01 per share.
Shares of Robinhood sank as much as 15% to $9.98 in extended trading following results. The share price at its IPO in July last year was $38, and its record high in August was $85.
Robinhood, in its third set of results as a public company, posted total revenue of $363 million for the fourth quarter ended Dec. 31, compared to $318 million a year earlier.
Analysts on average had expected revenue of $362.14 million, according to IBES data from Refinitiv.
Robinhood's costs during the fourth quarter increased 162% from the previous year, contributing to the company's net loss.
On a call with reporters, Robinhood Chief Financial Officer Jason Warnick attributed much of the costs to share-based compensation and increasing headcount.
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Questionmarktarius
01/28/22 10:38:50 AM
#3:


Robinhood's costs during the fourth quarter increased 162% from the previous year, contributing to the company's net loss.
Found the problem

No, wait. Something's fucky.
If you bring in $363 million revenue, but still have a net loss of $423 million, then something is catastrophically wrong with your business model.
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Sexypwnstar
01/28/22 10:41:55 AM
#4:


WingsOfGood posted...
The share price at its IPO in July last year was $38, and its record high in August was $85.

So you're telling me I could've more than doubled my money buying into the IPO in less than a month?

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#5
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Vampire_Wreath
01/28/22 11:06:04 AM
#6:


I wonder how much those meme morons lost trying to tell everyone to short Robinhood when it went on market.

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CE_gonna_CE
01/28/22 11:07:54 AM
#7:


Buy low

Sell lower?

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https://gamefaqs.gamespot.com/boards/1531-food-delivery-services-general
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WingsOfGood
01/28/22 11:28:50 AM
#8:


Vampire_Wreath posted...
I wonder how much those meme morons lost trying to tell everyone to short Robinhood when it went on market.

Pretty sure this means they made money??

@Vampire_Wreath
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Vampire_Wreath
01/28/22 11:32:12 AM
#9:


WingsOfGood posted...
Pretty sure this means they made money??

@Vampire_Wreath

That's not how shorting works if it more than doubled in price from July to August.

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CE_gonna_CE
01/28/22 3:36:28 PM
#10:


Crazy to be up so much today after how down it just was yesterday after hours

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Trumpo
01/28/22 5:48:57 PM
#11:


Should not have turned off the buy button one year ago
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