Robinhood Markets Inc. · Q2 2024 earnings

Briefing

Reported record revenues and EPS, driven by strong growth in transaction-based and net interest revenues. The company focused on product launches and delivering value to customers, with Robinhood Gold reaching 2 million subscribers.

Robinhood's Q2 2024 results showed significant growth with record revenues of $682 million, a 40% increase year-over-year, and a record GAAP diluted EPS of $0.21, up $0.18 year-over-year. Net deposits reached $13.2 billion, representing an annualized growth rate of 41%.

• Total net revenues increased 40% year-over-year to $682 million.
• GAAP diluted EPS increased to $0.21, up from $0.03 in Q2 2023.
• Net deposits were $13.2 billion, with an annualized growth rate of 41%.
• Robinhood Gold subscribers increased to 2.0 million, a 61% year-over-year increase.

Headline financials

Revenue & EPS history

Robinhood's 2024 expense plan includes growth investments in new products, features, and international expansion while also getting more efficient in existing businesses. The outlook for both GAAP total operating expenses and Non-GAAP combined Adjusted Operating Expenses and SBC for full-year 2024 is unchanged at $1.85 billion to $1.95 billion.