Robinhood Markets, Inc

HOOD

Equity

ISIN US7707001027 / Valor 112476016

NASDAQ (2024-11-21)

USD 35.09-2.74%

Robinhood Markets, Inc
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About company

Robinhood Markets, Inc. is a financial services company that offers brokerage services through its subsidiaries, including Robinhood Financial LLC and Robinhood Securities, LLC. The company also provides cryptocurrency services through Robinhood Crypto, LLC, and a money spending account through Robinhood Money, LLC. Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA) and offers securities trading to self-directed customers.

Summarized from source with an LLMView SourceSector: Technology

Record Revenues

Robinhood Markets, Inc. reported record revenues of $682 million for the second quarter of 2024, marking a 40% increase year-over-year. This significant growth was driven by a substantial rise in transaction-based revenues, particularly from options and cryptocurrencies.

Net Income Surge

For Q2 2024, Robinhood Markets, Inc. achieved a net income of $188 million, translating to a diluted earnings per share (EPS) of $0.21. This is a notable improvement compared to the $25 million net income and $0.03 diluted EPS reported in the same quarter of the previous year.

Increased Net Deposits

Robinhood Markets, Inc. saw record net deposits of $13.2 billion in Q2 2024, representing an annualized growth rate of 41%. This influx of deposits contributed to the company's overall assets under custody, which increased by 57% year-over-year to $139.7 billion.

Growth in Funded Customers

The number of funded customers for Robinhood Markets, Inc. increased by 1.0 million year-over-year, reaching a total of 24.2 million by the end of Q2 2024. Additionally, the number of investment accounts grew by 1.4 million to 24.8 million.

Financial Outlook

Robinhood Markets, Inc. maintained its financial outlook for full-year 2024, with expected GAAP total operating expenses and Non-GAAP combined Adjusted Operating Expenses and Share-Based Compensation (SBC) ranging between $1.85 billion and $1.95 billion. The company plans to continue investing in new products, features, and international expansion while improving efficiency in existing operations.

Summarized from source with an LLMView Source

Key figures

340%1Y

21.0%3Y

%5Y

Performance

56.1%1Y

63.9%3Y

71.1%5Y

Volatility