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Robinhood reports record Revenues of $618M in Q1-2024 led by 232% leap in Crypto activity
US neobroker Robinhood Markets, Inc. (NASDAQ:HOOD) is seeing its shares rise by 7% in aftermarket trading on Wednesday, after the company reported fairly upbeat results for the first quarter of 2024. Robinhood reported record quarterly revenues of $618 million in Q1-2024, up 40% year-over-year. The company also saw record GAAP Diluted EPS of $0.18 per share. The company’s Q1 results included record Net Deposits of $11.2 billion, including net positive transfers from every major incumbent brokerage firm. The company’s Gold Subscribers reached a new high of 1.7 million, up 42% year-over-year. After posting only its ... (full story)