Robinhood sees accruing roughly $100M expense in Q3

According to a regulatory filing, Robinhood Markets said it is working to resolve certain historical legal and regulatory matters, as it most recently disclosed in Note 16 to its Form 10-Q filed on August 3, 2023. As part of these efforts, the company currently expects to accrue an expense of approximately $100M in the third quarter of 2023 related to these previously disclosed matters. This expense was not included in the company’s latest 2023 GAAP total operating expenses outlook of $2.33B-$2.41B disclosed on August 2, 2023. At this time, the company is not providing an updated expense outlook but expects to do so when it reports results for the third quarter of 2023.