Robinhood Markets (Nasdaq: HOOD) generated a complete internet income of $471 million within the fourth quarter of 2023, a rise of 24 % year-over-year. The determine beat the market estimate of $457 million, which resulted in a surge of the brokerage’s shares in after-hours buying and selling.
Between October and December, Robinhood generated a internet revenue of $30 million, translating to $0.03 earnings per share. It pivoted from a lack of $85 million in Q3 2023 and a lack of $166 million within the corresponding quarter of the earlier 12 months.
As introduced yesterday (Tuesday), Robinhood’s income acquired a lift because of larger internet curiosity, transaction-based, and different income sources. Its internet curiosity revenue for the three months jumped by 4 % to $236 million.
Additional, the transaction-based income of the brokerage elevated by 8 % to $200 million. Robinhood highlighted that whereas choices buying and selling stays its income driver with $121 million, 2 % decrease, cryptocurrency income considerably elevated 10 % to $43 million. Equities income on the platform additionally elevated by 19 % to $25 million.
The platform generated $35 million in income, a rise of 30 %, from different sources, together with Gold subscriptions and Sherwood Media.
“2023 was a powerful 12 months as our product velocity continued to speed up, our buying and selling market share elevated, and we began to increase globally,” Vlad Tenev, CEO and Co-Founding father of Robinhood, stated.
Traders reacted rapidly to the outcomes of Robinhood because the publicly traded share worth of the corporate jumped by greater than 10 % within the after-hours buying and selling session.
Motion of HOOD shares after This autumn outcomes have been introduced
Sturdy Buyer Metrics
Robinhood’s buyer metrics considerably elevated within the final quarter of 2023. The variety of funded clients on the platform jumped by 420 thousand year-over-year to 23.4 million. Nonetheless, the month-to-month lively customers declined 4 % to 10.9 million.
Moreover, the belongings below custody elevated by 65 % to $102.6 billion. The web deposits on the platform additionally touched $4.6 billion, rising at an annualized fee of 21 %. The typical income per person elevated by 23 % to $81.
“We’re off to an excellent higher begin in 2024, as we have already introduced in additional Funded Clients and Internet Deposits by means of the primary half of Q1 than we did in all of This autumn 2023,” Tenev added.
Robinhood Markets (Nasdaq: HOOD) generated a complete internet income of $471 million within the fourth quarter of 2023, a rise of 24 % year-over-year. The determine beat the market estimate of $457 million, which resulted in a surge of the brokerage’s shares in after-hours buying and selling.
Between October and December, Robinhood generated a internet revenue of $30 million, translating to $0.03 earnings per share. It pivoted from a lack of $85 million in Q3 2023 and a lack of $166 million within the corresponding quarter of the earlier 12 months.
As introduced yesterday (Tuesday), Robinhood’s income acquired a lift because of larger internet curiosity, transaction-based, and different income sources. Its internet curiosity revenue for the three months jumped by 4 % to $236 million.
Additional, the transaction-based income of the brokerage elevated by 8 % to $200 million. Robinhood highlighted that whereas choices buying and selling stays its income driver with $121 million, 2 % decrease, cryptocurrency income considerably elevated 10 % to $43 million. Equities income on the platform additionally elevated by 19 % to $25 million.
The platform generated $35 million in income, a rise of 30 %, from different sources, together with Gold subscriptions and Sherwood Media.
“2023 was a powerful 12 months as our product velocity continued to speed up, our buying and selling market share elevated, and we began to increase globally,” Vlad Tenev, CEO and Co-Founding father of Robinhood, stated.
Traders reacted rapidly to the outcomes of Robinhood because the publicly traded share worth of the corporate jumped by greater than 10 % within the after-hours buying and selling session.
Motion of HOOD shares after This autumn outcomes have been introduced
Sturdy Buyer Metrics
Robinhood’s buyer metrics considerably elevated within the final quarter of 2023. The variety of funded clients on the platform jumped by 420 thousand year-over-year to 23.4 million. Nonetheless, the month-to-month lively customers declined 4 % to 10.9 million.
Moreover, the belongings below custody elevated by 65 % to $102.6 billion. The web deposits on the platform additionally touched $4.6 billion, rising at an annualized fee of 21 %. The typical income per person elevated by 23 % to $81.
“We’re off to an excellent higher begin in 2024, as we have already introduced in additional Funded Clients and Internet Deposits by means of the primary half of Q1 than we did in all of This autumn 2023,” Tenev added.
