Zach Anderson
Nov 11, 2024 21:06
Robinhood Markets, Inc. (NASDAQ: HOOD) launched its October 2024 working knowledge, noting substantial progress in funded prospects, belongings below custody, and buying and selling volumes throughout numerous sectors.
Robinhood Markets, Inc. (NASDAQ: HOOD) has launched its working knowledge for October 2024, showcasing notable progress throughout a number of key metrics. The Menlo Park-based firm reported an increase in funded prospects and a major improve in belongings below custody, based on a latest announcement on GlobeNewswire.
Improve in Funded Clients and Belongings
By the tip of October, Robinhood’s funded prospects totaled 24.4 million, marking a rise of roughly 90,000 from September 2024 and over a million in comparison with the earlier 12 months. Belongings Beneath Custody (AUC) reached $159.7 billion, reflecting a 5% improve from September and a formidable 89% year-over-year progress. Web deposits for October have been recorded at $5.2 billion, translating to a 41% annualized progress fee from the earlier month’s AUC. Over the previous twelve months, internet deposits amounted to $43.2 billion, indicating a 51% annual progress fee relative to October 2023.
Buying and selling Quantity Surge
Robinhood’s buying and selling volumes additionally noticed substantial progress. Fairness notional buying and selling volumes surged to $126.4 billion, up 48% from September and 149% year-over-year. Choices contracts traded reached 158.0 million, growing by 16% from the earlier month and 64% year-over-year. Crypto notional buying and selling volumes rose to $5.6 billion, marking a 51% improve from September and a 143% rise in comparison with October 2023.
Margin and Money Sweep Balances
On the finish of October, Robinhood’s margin balances stood at $6.2 billion, representing a 13% improve from September and a 77% improve year-over-year. Complete money sweep balances reached $25.5 billion, up 4% from the prior month and 83% from the earlier 12 months. Complete securities lending income for October was $19 million, up 6% from September and 73% year-over-year.
The reported knowledge is preliminary and unaudited, primarily based on Robinhood’s estimates, and topic to vary following the completion of economic closing procedures. The ultimate outcomes shall be detailed within the firm’s quarterly and annual filings with the U.S. Securities and Change Fee (SEC).
Robinhood, recognized for pioneering commission-free inventory buying and selling, continues to increase its providers, providing trades in shares, choices, commodities, and cryptocurrencies to a rising person base. The corporate stays dedicated to its mission of democratizing finance for all.
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