financetom
Market
financetom
/
Market
/
Robinhood Markets Stock Surges After The Close: Here's Why
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Robinhood Markets Stock Surges After The Close: Here's Why
Mar 13, 2024 2:45 PM

Robinhood Markets Inc ( HOOD ) shares are trading higher in Wednesday’s after-hours session after the company announced monthly metrics for February.

What Happened: After the market close on Wednesday, Robinhood said total funded customers grew to 23.6 million at the end of February, up approximately 130,000 from January.

Net deposits were $3.6 billion last month. The company had total assets under custody of $118.7 billion as of the end of February, up 16% from January. Robinhood noted that net deposits totaled $21.6 billion over the last 12 months.

Robinhood also said that trading volumes in February were higher across all asset classes relative to January. Equity notional trading volumes were $80.9 billion, up 36%. Options contracts traded were 119.1 million, up 12%, and crypto notional trading volumes were $6.5 billion, up 10%.

Margin balances at the end of February were $3.8 billion, up 6% from January. Total cash sweep balances were $18.1 billion, up 8% from the end of January. Total securities lending revenue in February was $13 million, up 8% from the prior month.

Robinhood is not due to report quarterly results again until early May. Analysts expect the company to report earnings of 3 cents per share and revenue of $506.652 million.

HOOD Price Action: Robinhood shares were up 8.97% at $18.61 after-hours at the time of publication Wednesday, according to Benzinga Pro.

Check This Out: MicroStrategy Stock Moves Lower On Proposed Offering To Buy More Bitcoin

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Robinhood Markets Assets in Custody Rose in February; Shares Rise
Robinhood Markets Assets in Custody Rose in February; Shares Rise
Mar 13, 2024
04:49 PM EDT, 03/13/2024 (MT Newswires) -- Robinhood Markets ( HOOD ) said Wednesday that assets in custody were $118.7 billion in February, gaining 16% from January and increasing 59% from a year earlier. Funded customers were 23.6 million at the end of February, compared with 23.5 million a month earlier and 23.1 million a year earlier, the company said....
Japan's Nikkei falls as chip-related stocks track US peers lower
Japan's Nikkei falls as chip-related stocks track US peers lower
Mar 13, 2024
TOKYO, March 14 (Reuters) - Japan's Nikkei share average fell on Thursday, as heavyweight chip-related stocks tracked U.S. peers' declines overnight, while gains in energy shares limited the losses. The Nikkei was down 0.18% at 38,625,22 by the midday break, set for a fourth straight session of falls. The broader Topix was little changed at 2,648.66. Japan's major chip stocks...
Robinhood Markets Stock Surges After The Close: Here's Why
Robinhood Markets Stock Surges After The Close: Here's Why
Mar 13, 2024
Robinhood Markets Inc ( HOOD ) shares are trading higher in Wednesday’s after-hours session after the company announced monthly metrics for February. What Happened: After the market close on Wednesday, Robinhood said total funded customers grew to 23.6 million at the end of February, up approximately 130,000 from January. Net deposits were $3.6 billion last month. The company had total assets under...
Best And Worst Housing Markets: Is Your Town Winning As Mortgage Rates Fall?
Best And Worst Housing Markets: Is Your Town Winning As Mortgage Rates Fall?
Mar 13, 2024
Wondering how the housing market is doing where you live? Realtor.com, which tracks data and trends in the real estate space, assigns metro areas a hotness score based on available supply and demand of houses. Here are some of the hottest, and coldest areas according to Realtor. Starting With The Cold Areas: Despite many people moving to southern states like...
Copyright 2023-2026 - www.financetom.com All Rights Reserved