Welcome to our dedicated page for Robinhood Markets news (Ticker: HOOD), a resource for investors and traders seeking the latest updates and insights on Robinhood Markets stock.
Robinhood Markets, Inc. (NASDAQ: HOOD) is a pioneering American financial services company headquartered in Menlo Park, California. Established with the mission to democratize finance for all, Robinhood offers a modern, app-based platform for commission-free trading of stocks, exchange-traded funds (ETFs), and cryptocurrencies. Launched in March 2015, the Robinhood app has garnered widespread popularity for its user-friendly interface and innovative features.
The core business of Robinhood revolves around providing seamless access to financial markets. The company has designed its own suite of products and services, which are delivered through a vertically integrated, cloud-based platform supported by proprietary technology. Key offerings include cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access.
Robinhood's revenue model is primarily transaction-based, earning from routing user orders for options, equities, and cryptocurrencies to market makers. This strategic approach has enabled Robinhood to maintain its commitment to commission-free trades while generating substantial income.
Recent achievements highlight Robinhood's continued growth and innovation. As of early 2024, Robinhood announced the release of its fourth quarter and full-year 2023 financial results, with a dedicated earnings call scheduled. Shareholders are given an opportunity to submit and upvote questions for management ahead of the earnings call via the Say Technologies platform, demonstrating Robinhood's emphasis on transparency and shareholder engagement.
In significant leadership news, Co-Founder and Chief Creative Officer Baiju Bhatt stepped down from his executive role to pursue other entrepreneurial ventures but remains on the Board of Directors. Additionally, Robinhood's international expansion efforts were bolstered by the acquisition of Bitstamp, a reputable global cryptocurrency exchange, expected to close in the first half of 2025. This strategic move aims to accelerate Robinhood's global footprint and introduce institutional business offerings.
Robinhood is also enhancing its services for European customers, introducing features like crypto staking, localized apps, and Learn & Earn modules to foster deeper engagement and education. New customers in Europe are incentivized with a 10% bonus on net buys within the first 30 days of joining the platform.
Overall, Robinhood Markets, Inc. stands out as a dynamic and forward-thinking company committed to making financial markets accessible to everyone, continually evolving to meet the needs of its diverse user base.
Robinhood (HOOD) reported strong Q3 2024 results with total net revenues up 36% year-over-year to $637 million. The company achieved net income of $150 million, or $0.17 diluted EPS, compared to a net loss in Q3 2023. Transaction-based revenues increased 72% to $319 million, driven by growth in options, cryptocurrencies, and equities. Assets Under Custody grew 76% to $152.2 billion, while Funded Customers reached 24.3 million. Gold Subscribers increased 65% to 2.2 million. The company launched Robinhood Legend desktop platform and plans to introduce futures and index options trading.
Robinhood has announced its first Investor Day, scheduled for December 4, 2024 in New York City. The event will be live streamed, with options for both institutional and retail investors and analysts to attend in person. During the event, Robinhood plans to share its long-term vision for the next decade and beyond, focusing on how this vision can drive customer and shareholder value. The company will also provide an opportunity for investors and analysts to ask questions. For more details, interested parties are directed to visit the investor relations section of Robinhood's website.
Robinhood Crypto has launched crypto transfers for customers in Europe, allowing them to deposit and withdraw over 20 cryptocurrencies. This feature, one of the most requested in the region, offers greater flexibility and control over digital assets. For a time, customers will receive a 1% match on all crypto deposits, subject to terms.
Additional benefits include:
- Trading 35+ cryptocurrencies at low costs
- Zero-fee Bitcoin trading with a 30 BTC sign-up bonus
- Solana staking with an estimated 5.23% APY
- 15% rewards on USDC holdings
- Earn rewards for learning about cryptocurrencies
Robinhood Crypto emphasizes security, holding the majority of crypto in cold storage and offering crime insurance against theft and cybersecurity breaches.
Robinhood Markets, Inc. (NASDAQ: HOOD) has announced that it will release its third quarter 2024 financial results on Wednesday, October 30, 2024, after market close. An earnings conference call will be held at 2:00 PM PT / 5:00 PM ET on the same day. A live webcast and supporting materials will be available at investors.robinhood.com, with a replay and transcript posted later.
Shareholders can submit and upvote questions for management using Say Technologies' Q&A platform from October 23 to October 29, 2024. The platform will be accessible at app.saytechnologies.com/robinhood-markets-2024-q3. Management will address selected upvoted questions during the earnings call.
Robinhood Markets, Inc. (NASDAQ: HOOD) reported its August 2024 operating data, showing mixed results. Funded Customers grew to 24.3 million, up 60,000 from July and over 1 million year-over-year. Assets Under Custody (AUC) decreased 1% month-over-month to $143.6 billion but increased 60% year-over-year. Net Deposits were $3.3 billion, with a 27% annualized growth rate. Trading volumes showed mixed performance: Equity volumes decreased 8% from July, Options contracts traded fell 8%, while Crypto volumes increased 2%. Margin balances and Cash Sweep balances both grew, up 2% and 5% respectively from July. However, Securities Lending Revenue declined 14% to $18 million compared to July.
Robinhood Markets (NASDAQ: HOOD) has announced its participation in the upcoming Goldman Sachs Communacopia + Technology Conference on September 10, 2024. CEO and Co-Founder Vlad Tenev is scheduled to present at 3:05 PM PT / 6:05 PM ET.
Interested parties can access a live audio webcast of the presentation through the company's investor relations website. Following the event, a recording will be available for replay for at least 90 days on the same platform.
This presentation offers an opportunity for investors and analysts to gain insights into Robinhood's current strategies and future outlook directly from its top leadership.
Robinhood Markets, Inc. (NASDAQ: HOOD) reported strong growth in its July 2024 operating data. Funded Customers increased to 24.2 million, up by 70,000 from June and over 1 million year-over-year. Assets Under Custody (AUC) reached $144.5 billion, a 3% increase from June and a 53% rise year-over-year. Net Deposits were $4.2 billion, with a 36% annualized growth rate. Trading volumes saw significant increases across equity, options, and crypto. Margin balances grew to $5.4 billion, up 8% from June and 59% year-over-year. Total Cash Sweep balances rose to $21.8 billion, a 4% increase from June and 72% year-over-year. Securities Lending Revenue remained flat at $21 million compared to June but increased 24% year-over-year.
Robinhood (NASDAQ: HOOD) reported significant financial results for Q2 2024, with total net revenues up 40% year-over-year to $682 million.
GAAP diluted EPS reached a record $0.21, up from $0.03 in Q2 2023, while net income increased to $188 million. The company saw record net deposits of $13.2 billion, an annualized growth rate of 41%.
Transaction-based revenues surged 69% to $327 million, driven by options revenue of $182 million, crypto revenue of $81 million, and equities revenue of $40 million. Net interest revenues climbed 22% to $285 million.
Operating expenses rose 6% to $493 million, while Adjusted EBITDA almost doubled to $301 million. Robinhood Gold subscribers increased 61% to 2 million. Assets under custody (AUC) grew 57% to $139.7 billion. Cash and cash equivalents stood at $4.5 billion.
Robinhood announced strategic acquisitions of Bitstamp and Pluto Capital, and authorized a $1 billion share repurchase program.
Robinhood Markets (NASDAQ: HOOD) will release its second-quarter 2024 financial results on August 7, 2024, following market close. An earnings call will be held the same day at 2:00 PM PT / 5:00 PM ET, accompanied by a live webcast accessible on the company's investor relations website. A recording and transcript of the call will also be available post-event. Shareholders can submit and upvote questions via Say Technologies' platform starting July 31, 2024, until August 6, 2024. The most upvoted questions will be addressed by management during the earnings call.
Robinhood Markets reported its May 2024 operating data, showing significant growth in various metrics. Funded customers reached 24.1 million, up 120 thousand from April 2024 and 960 thousand year-over-year. Assets Under Custody (AUC) stood at $135.0 billion, a 9% rise from April 2024 and 65% year-over-year. Net deposits were $3.6 billion in May, translating to a 35% annualized growth rate. Equity notional trading volumes hit $86.8 billion, up 23% from April 2024 and 76% year-over-year. Options contracts traded were 131.9 million, a 4% increase from April 2024 and 35% year-over-year. Crypto notional trading volumes dropped 30% month-over-month to $7.1 billion but were up 238% year-over-year. Margin balances rose to $4.5 billion, a 10% increase from April 2024 and a 45% increase year-over-year. Total cash sweep balances were $20.3 billion, a 6% increase month-over-month and 81% year-over-year. Securities lending revenue was $23 million, up 10% from April 2024 and 53% year-over-year.
FAQ
What is the current stock price of Robinhood Markets (HOOD)?
What is the market cap of Robinhood Markets (HOOD)?
What is Robinhood Markets, Inc.?
How does Robinhood generate revenue?
What new features has Robinhood introduced recently?
Who are the founders of Robinhood?
What is the significance of the Bitstamp acquisition?
When will Robinhood release its Q4 and full-year 2023 financial results?
How can shareholders submit questions for Robinhood's earnings call?
What new developments are there in Robinhood's leadership?
What is the mission of Robinhood Markets, Inc.?
Where can investors find more information about Robinhood's financials?
