Robinhood (HOOD) FY24Q1 Earning Viz

Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California. It operates an electronic trading platform that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrencies as well as individual retirement accounts via a mobile app introduced in March 2015. The company’s revenue comes from three main sources: interest earned on customers’ cash balances, selling order information to high-frequency traders and margin lending.

• Robinhood reported a Q1 2024 revenue of $618 million, a significant increase from the previous quarter and year-ago period. Net income for the quarter was $157 million, with GAAP EPS of $0.18, marking a record level. Adjusted EBITDA more than doubled to $247 million, with the adjusted EBITDA margin expanding by 14 points to 40%.
• Assets Under Custody reached a record $130 billion, up 65% year-over-year. Net Deposits were $11.2 billion in Q1, translating to a 44% annualized growth rate. Gold subscribers increased to 1.7 million, a 42% year-over-year increase.

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