Robinhood Markets beats by $0.11, misses on revs; MAU decreased 1.8 mln sequentially
- Reports Q3 (Sep) loss of $0.20 per share, $0.11 better than the S&P Capital IQ Consensus of ($0.31); revenues fell 1.1% year/year to $361 mln vs the $367.8 mln S&P Capital IQ Consensus.
- Transaction-based revenues increased 3% sequentially to $208 million.
- Options increased 10% sequentially to $124 million.
- Cryptocurrencies decreased 12% sequentially to $51 million.
- Equities increased 7% sequentially to $31 million.
- Monthly Active Users (MAU) decreased 1.8 million sequentially to 12.2 million for September 2022, as customers continued to navigate the volatile market environment.
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Financial Outlook: GAAP total operating expenses for full-year 2022 to be in the range of $2.34 billion to $2.40 billion, representing a decrease of approximately 31% to 32% from the prior year;
total operating expenses prior to share-based compensation for full-year 2022 to be in the range of $1.69 billion to $1.71 billion, representing a decrease of approximately 9% to 10% from the prior year. (These amounts include severance and other restructuring charges totaling $107 million in connection with the April 2022 Restructuring and the August 2022 Restructuring)