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Sep 30, 2024
Robinhood Q3 2024 Earnings Report
Robinhood's Q3 2024 results were announced, reporting a 36% year-over-year revenue increase to $637 million and a GAAP diluted EPS of $0.17.
Key Takeaways
Robinhood reported strong Q3 2024 results, with revenues up 36% year-over-year to $637 million and GAAP diluted EPS of $0.17. The company exceeded prior full-year records for both revenue and EPS. Key growth drivers included options, cryptocurrencies, and equities revenues.
Total net revenues increased 36% year-over-year to $637 million.
Net income increased year-over-year to $150 million, with a diluted EPS of $0.17.
Funded Customers increased by 1.0 million year-over-year to 24.3 million.
Assets Under Custody (AUC) increased 76% year-over-year to $152.2 billion.
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 anticipates continued investments in new products, features, and international expansion while focusing on efficiency in existing businesses. The outlook for GAAP total operating expenses is $1.86 billion to $1.96 billion. The outlook for Non-GAAP combined Adjusted Operating Expenses and SBC for full-year 2024 is unchanged at $1.85 billion to $1.95 billion.
Positive Outlook
- Growth investments in new products
- Growth investments in new features
- Growth investments in international expansion
- Focusing on efficiency in existing businesses
- Executing on authorized $1 billion share repurchase program
Challenges Ahead
- Potential significant regulatory matters
- Other significant expenses (such as impairments, restructuring charges, and business acquisition- or disposition-related expenses)
- Accruals we may determine in the future are required
- Rate of growth in Funded Customers and our effectiveness to cross-sell products which affects variable marketing costs
- Degree to which we are successful in managing credit losses and preventing fraud
Revenue & Expenses
Visualization of income flow from segment revenue to net income