Microsoft and Meta topped views late, though their stocks diverged. Robinhood and two bitcoin plays sold off.

In its third quarter earnings, trading platform Robinhood Markets (HOOD) fell short of revenue estimates ($637 million vs. the $663.5 million that was expected) while posting adjusted earnings of $0.17 per share, just one cent shy of estimates of $0.18. Citizens JMP Director of Financial Technology Research Devin Ryan joins Julie Hyman and Josh Lipton on Market Domination Overtime to weigh in on the company's results. Robinhood shares have fallen by over 10% in extended hours. "The bigger picture here is their assets, customer assets are up about 50% from the beginning of the year. So when you zoom out, we feel really good about the direction of the company," Ryan says on Robinhood's earnings print. "The September metrics were a little bit soft and we expected it. And that's what happened." Ahead of the 2024 election, Robinhood rolled out a new election betting market feature for retail traders. "That resonates with a small sliver of potential investors. But if it resonates with some, they want to provide access to it. And so that's when I think about what Robinhood is building," Ryan tells Yahoo Finance. "They're providing access to all things in financial markets on the trading side. And then over time, evolving the platform to be able to really help customers with a lot more of their financial service needs." To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Luke Carberry Mogan.

Financial services company Robinhood (NASDAQ:HOOD) fell short of the market’s revenue expectations in Q3 CY2024, but sales rose 36.4% year on year to $637 million. Its GAAP profit of $0.17 per share was also 3.4% below analysts’ consensus estimates.

Robinhood on Wednesday reported third-quarter revenue and profits that missed Wall Street expectations, sending shares down about 9% in afterhours trading. The online brokerage posted net income of $150 million, or 17 cents a share, on revenue of $637 million for the third quarter.

Chief Financial Officer Jason Warnick said on a media call that the difference between Street expectations and Robinhood's earnings were due to analyst models not factoring in "contra revenue" on the brokerage's match promotions. The company's net revenue was reduced by $27 million in the third quarter due to the 1%-3% matches it pays to customers to incentivize them to shift their assets on to the brokerage from other platforms. Meanwhile, the online commission-free brokerage saw a surge in trading volumes as heightened market activity and volatility sent mom-and-pop investors into the retail trading platform.

The online brokerage continues to seize new avenues of growth, which now includes Harris or Trump contracts.

Robinhood (HOOD) stock is in focus as the financial services company is set to report quarterly results after the bell on Wednesday. The earnings report comes as Robinhood has expanded its trading offerings to include futures and index options trades as well as betting options on the US presidential election. Seana Smith and Josh Schafer break down what investors need to know ahead of the results. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Naomi Buchanan.

The latest investor updates on stocks that are trending on Wednesday.

The brokerage firm has been offering customers incentives to move assets to Robinhood, and those efforts reduced revenue by $27 million during the quarter.

As of today, the stock-trading platform will let users buy ‘presidential election contracts’ for Donald Trump and Kamala Harris. Here’s what to know.

A Relative Strength Rating upgrade for LPL Financial Holdings shows improving technical performance. Will it continue?

Barclays keeps an Equal Weight rating on Robinhood (HOOD) with a $23 price target after the company said it will be adding election contracts to its platform with the roll out to customers beginning today. While the near-term revenue upside will be “quite modest” from the contracts, the launch is “another step on Robinhood’s longer-term product roadmap,” the analyst tells investors in a research note. Barclays thinks Robinhood’s election volumes are likely to be “some fraction” of the $2.5B trad

Financial services company Robinhood (NASDAQ:HOOD) will be announcing earnings results tomorrow afternoon. Here’s what to look for.

Here is a 2-minute breakdown of everything important that happened in crypto today.

With the U.S. presidential election a week away, another brokerage is letting people bet on whether Kamala Harris or Donald Trump will win.

Robinhood Markets Inc. announced that it now offers trading in U.S. presidential election contracts, and users can already trade on possible outcomes of the upcoming Trump-Harris race.

Sector Update: Financial Stocks Rise Late Afternoon

Sector Update: Financial Stocks Rise Monday Afternoon

In recent weeks, prediction markets have shifted heavily in favor of Donald Trump, while voter polls show him tied with Kamala Harris.