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Robinhood’s Recent Growth and Financial Performance
Robinhood Markets (NASDAQ: HOOD) has seen a significant increase in total platform assets, growing from $102 billion at the beginning of 2024 to $343 billion by the end of October 2024. In its latest quarterly earnings report, the company reported revenue of $1.27 billion and earnings per share of $0.61, with transaction-based revenue surging 129% to $730 million, aided by a 300% increase in cryptocurrency trading.
The company’s Gold membership, which costs $5 per month, has contributed to its steady income, while its prediction markets product has exceeded $100 million in annualized revenue within a year. Robinhood aims to expand this market and has traded 4 billion event contracts to date. The stock has risen from around $8 per share two years ago to approximately $115 today, indicating strong investor interest.
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