Table of Contents
Welcome back to earnings season! Over the next several weeks, I will be sending 40 detailed reviews on popular, high-quality companies. Upcoming reviews include Robinhood, Meta, SoFi, AMD, Palantir and so many others coming thereafter.
Reviews already sent:
If you'd like all of those reports, consistently thorough weekly news, my real-time performance/portfolio updates and access to a large Discord channel of seasoned investors, subscribe below.
This is where investors (including Fortune 500 executives) come for signal over noise and to invest with good reason.
a. Key Points
- Prediction markets continue to rapidly grow.
- Tough quarter for crypto revenue growth.
- Robinhood Banking is scaling very nicely.
b. Demand Snapshot
- Missed revenue estimates by 6.5%.
- Transaction-based revenue missed estimates by 5.7%.
- Options revenue missed estimates by 8%.
- Equity revenue missed estimates by 2%.
- Crypto revenue missed estimates by 9%.
- Net interest revenue missed estimates by 8%.
- Missed funded account estimates by 100K.
- Missed monthly active user (MAU) estimates by 1.5%.
c. Profit Snapshot
- Missed EBITDA estimates by 8.3%.
- Missed $0.39 EPS estimates by a penny. EPS rose by 3% Y/Y.
- OpEx rose by 18% Y/Y to support product and marketing investments.
- Interest-earning asset growth and balance sheet optimization helped offset the interest rate headwind to drive Y/Y net interest margin expansion.
