Robinhood Markets, Inc. Stock Price, News & Analysis

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.

Robinhood announced its agreement to acquire Bitstamp, a global cryptocurrency exchange, for approximately $200 million in cash. Expected to close in the first half of 2025, this acquisition will enable Robinhood to expand its crypto offerings and enter the institutional business market. Bitstamp, founded in 2011, operates in multiple regions, including the EU, UK, US, and Asia, and holds over 50 active global licenses. This strategic move aims to enhance Robinhood's global footprint and offer new products like institutional lending and staking. The acquisition is subject to regulatory approvals.

Robinhood Markets (NASDAQ: HOOD) will participate in the Piper Sandler Global Exchange and Trading Conference on June 5, 2024. Chief Brokerage Officer Steve Quirk is scheduled to present at 11:30 AM PT / 2:30 PM ET. A live audio webcast of the presentation will be accessible on Robinhood's investor relations website, with a recording available for replay for at least 90 days.

Robinhood Markets will present at the Deutsche Bank Global Financial Services Conference on May 30, 2024. CFO Jason Warnick will speak at 10:00 AM PT / 1:00 PM ET. A live audio webcast will be available on the company's investor website, with a replay accessible for 90 days.

Robinhood Markets reported its operating data for April 2024. The platform saw an increase in funded customers, reaching 24 million, reflecting a growth of 90,000 from March 2024. However, Assets Under Custody (AUC) fell by 5% to $123.3 billion. Net deposits were $4.9 billion for April, showing a 45% annualized growth rate compared to the previous month. Trading volumes for options increased by 7%, but volumes for equities and crypto declined by 17% and 57% respectively. Margin balances remained stable at $4.1 billion, while cash sweep balances rose by 1% to $19.1 billion. Securities lending revenue saw a significant increase of 24%, reaching $21 million. The data highlights a mixed performance in various areas of the business.