Zach Anderson
Nov 11, 2024 21:06
Robinhood Markets, Inc. (NASDAQ: HOOD) launched its October 2024 working information, noting substantial progress in funded prospects, property underneath custody, and buying and selling volumes throughout varied sectors.
Robinhood Markets, Inc. (NASDAQ: HOOD) has launched its working information 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 big enhance in property underneath custody, in accordance with a current announcement on GlobeNewswire.
Enhance in Funded Prospects and Property
By the top 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 yr. Property Beneath Custody (AUC) reached $159.7 billion, reflecting a 5% enhance from September and a powerful 89% year-over-year progress. Internet deposits for October have been recorded at $5.2 billion, translating to a 41% annualized progress charge from the earlier month’s AUC. Over the previous twelve months, internet deposits amounted to $43.2 billion, indicating a 51% annual progress charge 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% enhance 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% enhance from September and a 77% enhance year-over-year. Whole money sweep balances reached $25.5 billion, up 4% from the prior month and 83% from the earlier yr. Whole securities lending income for October was $19 million, up 6% from September and 73% year-over-year.
The reported information is preliminary and unaudited, primarily based on Robinhood’s estimates, and topic to vary following the completion of economic closing procedures. The ultimate outcomes will probably be detailed within the firm’s quarterly and annual filings with the U.S. Securities and Trade Fee (SEC).
Robinhood, identified for pioneering commission-free inventory buying and selling, continues to broaden 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.
Picture supply: Shutterstock
