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# Robinhood Reports 40% Revenue Jump and 2 Million Gold Subscribers in Q2 2024
- URL: https://www.theglobalbanker.com/robinhood-reports-40-percent-revenue-jump-and-2-million-gold-subscribers-in-q2-2024/
- Published: 2024-08-08T04:00:00.000Z
- Updated: 2026-10-02T13:32:38.000Z
- Description: Robinhood posted Q2 revenues of $682M, up 40% year-on-year, as Gold subscribers topped 2 million and net deposits reached $13.2B.
- Author: TGB Editorial Team
- Tags: Fintech, Americas, #archive

Robinhood Markets reported second-quarter 2024 total net revenues of $682 million, a 40% increase on the same period a year earlier, alongside net income of $188 million, as the retail trading platform continued to expand its premium subscription tier and draw in fresh client capital. 

The results were published on 7 August 2024\. 

#### GOLD SUBSCRIBERS CROSS TWO MILLION

Robinhood Gold, the company's paid subscription tier that offers higher interest rates on uninvested cash balances, access to margin lending at preferential rates, and premium research tools, surpassed two million subscribers during the quarter. That figure represents more than 8% of all funded customer accounts, a ratio Robinhood highlighted in its results. 

Margin balances rose 52% year-on-year to $5.0 billion, a two-year high. 

#### NET DEPOSITS AND REVENUE MIX

Net deposits for the quarter totalled $13.2 billion, equivalent to a 41% annualised growth rate. 

Revenue growth of 40% year-on-year was led by a 69% rise in transaction-based revenues to $327 million, while net interest revenues rose 22% to $285 million and other revenues, mainly Gold subscriptions, rose 19% to $70 million.

Robinhood kept its full-year 2024 outlook for GAAP total operating expenses and combined adjusted operating expenses and share-based compensation unchanged at $1.85 billion to $1.95 billion, a plan that includes growth investments in new products, features and international expansion. "With Robinhood Gold reaching 2 million subscribers, we're witnessing the flywheel accelerate," said chief executive Vlad Tenev.