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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.
Robinhood
Robinhood
Robinhood Revenue by Segment
Revenue by Segment
Cryptocurrencies Revenue
CapyFin.comOptions Revenue
CapyFin.comEquities Revenue
CapyFin.comNet Interest Revenue
CapyFin.comOther Revenues Revenue
CapyFin.com 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.
- Potential significant regulatory matters or other significant expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income