Robinhood Markets Inc. announced on Wednesday that its revenue in the first quarter of its fiscal 2025 skyrocketed 50% to reach $927 million, beating expectations.
The American multinational financial giant's net income soared 114% year-over-year, landing at $336 million. At the same time, diluted earnings per share (EPS) jumped 106% in the reported quarter compared to the same period of the year prior, to $0.37.
"This quarter, we significantly accelerated product innovation across our key initiatives, highlighted by the announcement of Robinhood Strategies, Banking, and Cortex," CEO Vlad Tenev commented. "Customers have clearly responded — demonstrated by record-breaking net deposits, Robinhood Gold subscriptions, and options volume, as well as robust year-over-year growth in trading across all asset classes."
The company's shares lost 0.56% in the after-hours trade after the report's release and sold for $49.11 at 4:22 ET.
