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Mar 31, 2024
Robinhood Q1 2024 Earnings Report
Reported record revenues and EPS, driven by strong growth in transaction-based revenue and net interest revenue.
Key Takeaways
Robinhood reported a strong first quarter in 2024, with record revenues of $618 million, up 40% year-over-year, and a record GAAP diluted EPS of $0.18. The company saw growth in transaction-based revenues, net interest revenues, and other revenues. Net deposits reached a record $11.2 billion, and Gold subscribers hit a new high of 1.7 million.
Total net revenues increased 40% year-over-year to $618 million.
Net income increased year-over-year to $157 million, with diluted EPS of $0.18.
Net Deposits were $11.2 billion, representing an annualized growth rate of 44%.
Gold Subscribers increased by 42% year-over-year to 1.7 million.
Revenue by Segment
Forward Guidance
Robinhood expects GAAP total operating expenses and Non-GAAP combined Adjusted Operating Expenses and SBC for full-year 2024 to be in the range of $1.85 billion to $1.95 billion.
Positive Outlook
- Growth investments in new products and features.
- International expansion.
- Focus on efficiency in existing businesses.
- Driving profitable growth in 2024.
- Strong start to Q2 with high net deposits and Gold subscriber growth in April.
Challenges Ahead
- Actual results might differ materially from outlook.
- Rate of growth in Funded Customers affects variable marketing costs.
- Effectiveness in managing credit losses and preventing fraud.
- Ability to manage web-hosting expenses efficiently.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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