Darius Baru
16 Aug 2024 13:26
Robinhood Markets, Inc. (NASDAQ: HOOD) reported its July 2024 operating data, highlighting growth in fund clients, assets under custody, and trading volume.
According to GlobeNewswire, Robinhood Markets, Inc. (NASDAQ: HOOD) has released its July 2024 operating results, showing notable growth in several key areas.
Funding Clients and Assets in Custody
At the end of July 2024, Robinhood reported 24.2 million funded customers, up approximately 70,000 from June 2024 and over 1 million from the previous year. Assets under custody (AUC) reached $144.5 billion, up 3% from June 2024 and 53% from the previous year. Net deposits in July were $4.2 billion, representing a 36% year-over-year growth rate over the June 2024 AUC. Net deposits in the past 12 months were $35.8 billion, representing a 38% year-over-year growth rate over the July 2023 AUC.
Trading volume and margin balance
Equity notional volume surged to $104.4 billion, up 21% from June 2024 and 51% year-over-year. Options contracts traded reached 160.5 million, up 22% month-over-month and 51% year-over-year. Cryptocurrency notional volume reached $5.3 billion, up 23% month-over-month and 56% year-over-year. Margin balances were $5.4 billion as of the end of July, up 8% from June 2024 and 59% year-over-year.
Cash cleaning balance and securities loan proceeds
Total cash clearing balance at the end of July was $21.8 billion, up 4% from June 2024 and 72% year-over-year. Gold cash clearing balance was $21.2 billion, up 4% from June 2024 and 78% year-over-year. Non-gold cash clearing balance was flat at $600 million month-over-month, down 25% year-over-year. Total securities lending income in July was $21 million, flat to June 2024 but up 24% year-over-year.
Daily Average Revenue Transactions (DART)
Stock DART was reported at 2.1 million, down 5% from June 2024 but up 24% year-over-year. Options DART was stable at 0.90 million, up 29% year-over-year. Cryptocurrency DART was flat at 0.30 million in June 2024, up 50% year-over-year.
For more detailed definitions and additional information on these indicators, see Robinhood’s full monthly indicators archive available on their investor relations website.
About Robinhood
Robinhood Markets, Inc. aims to democratize finance for everyone. In the United States, Robinhood Financial LLC and Robinhood Crypto, LLC offer commission-free trading of U.S. stocks, options, and cryptocurrencies. The company also offers debit and credit card services through Robinhood Money, LLC and Robinhood Credit, Inc. In the United Kingdom and certain jurisdictions of the European Union, Robinhood offers trading services through its subsidiaries.
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