Robinhood Markets, Inc. announced its financial results for the third quarter of 2024, detailing a period of significant financial performance for the brokerage platform. The company reported total net revenues of $1.27 billion, effectively doubling the revenue from the same period in the prior year. This substantial revenue increase was largely driven by a 339% surge in revenues from the cryptocurrency segment, which reached $268 million for the quarter.
The financial disclosure, released around Wednesday, November 5, also highlighted a near quadrupling of the firm's net income, which settled at $570 million. This translated to earnings per share (SPE) of 61 cents, surpassing the consensus analyst expectation of 53 cents. Transaction-based revenues grew by 129% year-over-year, totaling $730 million. Within this core segment, equities trading revenue increased by 132%, while options trading revenue saw a 50% rise, indicating diversified monetization of retail investor activity.
The platform’s overall financial health was further supported by the expansion of total assets under custody, which grew by 119% to reach $333 billion, supported by record net deposits of $20.4 billion during the quarter. Customer engagement metrics also improved, with the Robinhood Gold subscriber base expanding by 77% year-over-year to 3.9 million users, signaling growing adoption of premium services.
The company is also navigating a planned leadership transition. Chief Financial Officer Serhii Byliy announced his forthcoming retirement, with Shiv Verma slated to assume the CFO role beginning in the first quarter of 2026. This handover is scheduled during a period of peak financial reporting for Robinhood Markets, Inc. (NASDAQ: HOOD).
The robust Q3 2025 report underscores a maturing monetization strategy for the digital brokerage, which continues to compete in the fintech sector through expanded offerings. The significant growth in crypto revenue suggests successful integration of digital assets into the core value proposition, capitalizing on broader market trends. The strong beat on net income, driven by both revenue acceleration and operational leverage, positions the firm to manage the inherent regulatory and competitive pressures of the brokerage industry.
