![]() ![]() Robinhood remains focused on regulatory compliance, platform security, and risk management. The expansion of Robinhood's cryptocurrency offerings and exploration of decentralized finance (DeFi) reflects its commitment to providing users with a diverse range of options. Additionally, the company aims to democratize access to financial advice by leveraging technology to offer personalized advisory services at a fraction of the cost. Robinhood has also launched Stock Screeners to assist customers in finding investment opportunities. This move highlights the company's commitment to innovation and meeting user needs. The introduction of the 24 Hour Market is a significant milestone for Robinhood, making it the first brokerage to enable customers to trade individual stocks 24/5. ![]() The company raised the yield of its Gold cash sweep program to 4.65%, attracting more subscribers and increasing cash sweep balances. Robinhood continues to enhance its services and deepen customer relationships. Net Deposits for Q1 amounted to $4.4 billion, with an annualized growth rate of 29%. Assets Under Custody (AUC) grew by 26% to $78 billion. Monthly Active Users (MAU) increased by 0.4 million, reaching 11.8 million. ![]() Net Cumulative Funded Accounts rose by 120,000 to reach 23.1 million. Robinhood experienced positive growth in key metrics. Despite reporting a net loss of $511 million, the adjusted EBITDA (non-GAAP) showed a significant increase of 40% to $115 million. Net interest revenue surged by 25% to $208 million, thanks to the expansion of interest-earning assets, increased securities lending activity, and higher short-term interest rates. Although cryptocurrency revenues declined slightly by 1% ($38 million), this should be considered within the context of the volatile crypto market. Transaction-based revenues grew by 11%, driven by a 7% increase in options trading ($133 million) and a remarkable 29% increase in equities trading ($27 million). In Q1, Robinhood's total net revenues increased by 16% to $441 million. This article presents an overview of the company's performance and highlights its commitment to democratizing finance. Shares in Robinhood are up in pre-market trading.Robinhood, the leading online brokerage platform, has achieved impressive financial results in Q1 2023. Robinhood says it is now the only platform offering 24-hour trading in the US. Tenev said the launch of 24-hour trading next week is emblematic of the innovation of the platform. Vlad Tenev, CEO and Co-Founder of Robinhood Markets, said they had a great start of the year as they boosted customer satisfaction and “ship aggressively” while on a path to GAAP profitability. Net funded accounts of 23.1 million, rising 120,000 sequentially.Ĭash on hand stood at $5.5 billion, down from $6.3 billion in Q4 2022. Robinhood reported an additional 400,000 new users to the platform, now standing at 11.8 million. The net income delivered a loss of $511 million and earnings per share of -$0.57, compared with a net loss of $166 million, or EPS of -$0.19, in Q4 2022, a sequential decrease of $345 million or $0.38 per share. Net interest revenue increased 25% sequentially to $208 million, with Robinhood explaining that the growth was due to increased securities lending activity and higher short-term interest rates. ![]()
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