Robinhood Markets reported robust Q3 2024 financial results, with total net revenues increasing 36% year-over-year to $637 million and net income reaching $150 million, or $0.17 per diluted share. Transaction-based revenues surged 72% to $319 million, driven by significant growth in cryptocurrency, options, and equities trading volumes. Net interest revenues grew 9% to $274 million on higher interest-earning assets.Assets Under Custody (AUC) jumped 76% year-over-year to $152.2 billion, supported by $10 billion in net deposits during the quarter, representing an annualized growth rate of 29%. The company's customer base expanded to 24.3 million Funded Customers, while Gold Subscribers increased 65% to 2.19 million. Operating expenses decreased 10% to $486 million, reflecting improved operational efficiency.The company continued its share repurchase program, buying back $97 million worth of Class A common stock during the quarter. Looking ahead, Robinhood maintains a strong liquidity position with $4.61 billion in cash and cash equivalents, positioning the company for continued growth while investing in new product offerings and international expansion.

Robinhood Markets reported robust Q3 2024 financial results, with total net revenues increasing 36% year-over-year to $637 million and net income reaching $150 million, or $0.17 per diluted share. Transaction-based revenues surged 72% to $319 million, driven by significant growth in cryptocurrency, options, and equities trading volumes. Net interest revenues grew 9% to $274 million on higher interest-earning assets.Assets Under Custody (AUC) jumped 76% year-over-year to $152.2 billion, supported by $10 billion in net deposits during the quarter, representing an annualized growth rate of 29%. The company's customer base expanded to 24.3 million Funded Customers, while Gold Subscribers increased 65% to 2.19 million. Operating expenses decreased 10% to $486 million, reflecting improved operational efficiency.The company continued its share repurchase program, buying back $97 million worth of Class A common stock during the quarter. Looking ahead, Robinhood maintains a strong liquidity position with $4.61 billion in cash and cash equivalents, positioning the company for continued growth while investing in new product offerings and international expansion.