Robinhood Markets reports Q2 (Jun) results, revs in-line, MAUs up 109%, expects seasonal headwinds and lower trading activity across the industry in Q3 (49.80 +3.13)
- Reports Q2 (Jun) loss of $2.16 per share, may not be comparable to the two analyst estimate of ($0.26); revenues rose 131.6% year/year to $565 mln vs the $559.55 mln two analyst estimate.
- Transaction-based revenues increased 141% to $451 million in the second quarter of 2021, compared with $187 million in the second quarter of 2020.
- Options increased 48% to $165 million in the second quarter of 2021, compared with $111 million in the second quarter of 2020.
- Cryptocurrencies increased to $233 million in the second quarter of 2021, compared to $5 million in the second quarter of 2020.
- Equities transaction-based revenue decreased 26% to $52 million in the second quarter of 2021, compared with $71 million in the second quarter of 2020.
- Monthly Active Users (MAUs) increased 109% to 21.3 million in the second quarter of 2021, compared with 10.2 million in the second quarter of 2020.
- Assets Under Custody increased 205% to $102 billion in the second quarter of 2021, compared with $33 billion in the second quarter of 2020.
- Outlook: "... For the three months ended September 30, 2021, we expect seasonal headwinds and lower trading activity across the industry to result in lower revenues and considerably fewer new funded accounts than in the prior quarter. For operating expenses, we will continue to invest in key areas to enhance platform capabilities, drive product innovation and improve customer support, as well as building upon our regulatory and compliance functions. We will also record a one-time cumulative charge of $1.0 billion in stock-based compensation for restricted stock units related to our IPO in the third quarter... "