2024-05-08 16:07:20 ET
- Robinhood Markets press release ( NASDAQ: HOOD ): Q1 GAAP EPS of $0.18 beats by $0.12 .
- Revenue of $618M (+40.1% Y/Y) beats by $63.04M .
- Transaction-based revenues increased 59% year-over-year to $329 million, primarily driven by cryptocurrencies revenue of $126 million, up 232%, options revenue of $154 million, up 16%, and equities revenue of $39 million, up 44%.
- Net interest revenues increased 22% year-over-year to $254 million, driven by growth in interest-earning assets and higher short term interest rates.
- Other revenues increased 35% year-over-year to $35 million, primarily driven by higher Gold subscription revenue.
- Funded Customers increased by 810 thousand year-over-year to 23.9 million.
- Investment Accounts increased by 1.1 million year-over-year to 24.4 million.
- Assets Under Custody (AUC) increased 65% year-over-year to $129.6 billion, primarily driven by higher equity and cryptocurrency valuations and continued Net Deposits.
- Net Deposits were $11.2 billion, an annualized growth rate of 44% relative to AUC at the end of Q4 2023. Over the past twelve months, Net Deposits were $23.9 billion, a growth rate of 30% relative to AUC at the end of Q1 2023.
- Average Revenue Per User (ARPU) increased by 35% year-over-year to $104.
- Gold Subscribers increased by 500 thousand, or 42%, year-over-year to 1.7 million.
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Robinhood Markets GAAP EPS of $0.18 beats by $0.12, revenue of $618M beats by $63.04M