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Robinhood Markets, Inc. (HOOD) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.21 per share a year ago.
Robinhood and AppLovin are the two largest companies that aren't in the index. Both companies were snubbed during recent additions.
CNBC's MacKenzie Sigalos joins 'Closing Bell Overtime' with RObinhood results.
Robinhood Markets (HOOD) reported a blowout earnings beat
Stock and cryptocurrency trading platform Robinhood Markets Inc. HOOD reported second-quarter financial results after market close Wednesday.
Robinhood stock looked to decline after its Q2 report Wednesday. Cryptocurrency revenue soared, but not enough for analysts.
The retail trading platform logged a 45% leap in sales as cryptocurrency, options and equities drove revenue.
Retail investors bought the recent stock market dip at record rates in response to volatility, likely helping boost Robinhood's business.
Robinhood delivered adjusted EPS of 42 cents, comfortably beating the analyst consensus of 31 cents. The company reported revenues of $989 million, beating estimates of $908 million.
CNBC's MacKenzie Sigalos reports on Robinhood's 177% surge this year and how its expansion into global fintech, tokenized stocks, and crypto infrastructure is fueling investor focus ahead of earnings.