NASDAQ$HOOD
Robinhood Markets Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported record revenues and EPS, driven by strong growth in transaction-based revenue and net interest revenue.
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.
Headline financials
Revenue & EPS history
Robinhood · Revenue · Quarterly
$618M
Revenue by segment
Robinhood · $282M total across 2 segments · Q3 2023
- Net interest$251M+96.1%89.0%
- Other revenue$31M+24.0%11.0%
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.
Tailwinds
- 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.
Headwinds
- 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-1.4%
Avg return
Earnings day
-2.8%
Avg return
5 days after
+1.9%
Avg return
30 days after
36%
9 / 25 earnings
Positive
+14.1%
Q4 2024
Best reaction
-16.2%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | -6.7% | +14.9% | |
| Q4 2025 | +0.0% | -26.9% | -20.8% | |
| Q3 2025 | -8.8% | -7.4% | -7.4% | |
| Q2 2025 | -2.9% | -0.6% | -2.0% | |
| Q1 2025 | -5.1% | -0.9% | +34.7% | |
| Q4 2024 | +14.1% | +2.3% | -9.7% | |
| Q3 2024 | -16.2% | -13.2% | +33.9% | |
| Q2 2024 | +3.0% | +7.7% | +10.1% | |
| Q1 2024 | -3.8% | -6.1% | +23.3% | |
| Q4 2023 | +11.4% | -4.1% | +50.6% | |
| Q3 2023 | -12.8% | -14.2% | +19.7% | |
| Q2 2023 | -10.3% | -11.9% | -13.7% | |
| Q1 2023 | +5.9% | -5.0% | +3.3% | |
| Q4 2022 | -4.5% | +5.8% | -5.2% | |
| Q3 2022 | +3.4% | +0.9% | -16.2% | |
| Q2 2022 | +14.0% | +15.0% | +6.5% | |
| Q1 2021 | -10.5% | -23.2% | -13.6% | |
| Q1 2022 | +3.1% | +6.2% | +9.1% | |
| Q4 2019 | +6.9% | +8.4% | +14.1% | |
| Q4 2021 | +2.6% | +18.0% | -6.4% | |
| Q3 2020 | -1.7% | +4.4% | -21.3% | |
| Q3 2021 | -9.2% | -10.4% | -28.3% | |
| Q2 2020 | -4.2% | -3.0% | -9.2% | |
| Q2 2021 | -4.2% | -3.0% | -9.2% | |
| Q4 2020 | -4.2% | -3.0% | -9.2% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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