Robinhood Reports Record Third-Quarter Revenue of $1.4 Billion, Up 12% From a Year Earlier
Summary
- Robinhood said revenue rose 12% from a year earlier to a record $1.4 billion in the third quarter.
- The company said net deposits totaled $16 billion during the same period, a figure that excludes withdrawals from the amount customers deposited into their accounts.
- It said Robinhood Gold subscriptions, its paid membership service, climbed to a record 5.2 million.
Forecast Trend Report by Period
Robinhood, the U.S. online brokerage platform, posted record revenue in the third quarter. Net deposits totaled $16 billion, and paid subscriptions to Robinhood Gold also reached an all-time high.
According to Robinhood's third-quarter results released on October 27, revenue rose 12% from a year earlier to $1.4 billion.
Net deposits came to $16 billion during the same period. The figure measures customer deposits into accounts minus withdrawals.
Robinhood Gold, the company's paid subscription service, had 5.2 million subscribers, marking a record high.
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