Robinhood's Q3: Mixed Results, Crypto Drag

JPMorgans mixed review of Robinhoods Q3 earnings: solid but with lower quality, driven by tax benefits rather than core business growth. Earnings per share beat expectations by 15% due to a lower tax rate from stock-based compensation. Crypto market dragged performance, with net revenue missing estimates and contributing to a 11% share slump. Robinhoods crypto fee rate slightly decreased, impacting revenue landscape. JPMorgan predicts improving margins and raised price target to $130, maintaining a neutral rating.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.