Wed Oct 30 20:00:00 UTC 2024: ## Robinhood Expected to Report Strong Q3 Results, Website Traffic Hints at Growth

**MENLO PARK, CA – October 26, 2023** – Robinhood Markets (HOOD) is poised to report strong third-quarter financial results on October 30th, with analysts expecting both earnings and revenue to increase significantly from the same period last year.

Analysts predict earnings per share to reach $0.18, a significant improvement from the $0.09 loss reported in Q3 2022. Revenue is projected to hit $653 million, representing a 39% year-over-year jump. This positive outlook is further supported by encouraging website traffic data, which shows a 121.12% year-over-year increase in visits to robinhood.com in Q3.

Analysts remain optimistic about Robinhood’s future, citing the recent launch of index options and futures as a key driver for attracting active traders. They also anticipate the company to achieve positive GAAP profit in 2024, fueled by increased client activity in the equities and crypto market.

However, some analysts express caution, highlighting potential concerns like a possible decrease in net interest income due to anticipated interest rate cuts in 2024 and the long-term sustainability of Robinhood’s growth as incentive payments decrease.

Options traders are currently expecting a 10.01% move in either direction for HOOD stock after the earnings release. Wall Street analysts remain moderately bullish, with a consensus rating of “Moderate Buy” on the stock. The average price target is $25.23, representing a 9.51% downside potential. HOOD shares have surged by 207% over the past year.

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