Robinhood Markets Inc. (HOOD) reported third-quarter 2024 earnings with total net revenue rising 36% year-over-year to $637 million, missing analyst expectations of $651 million. Net income increased to $150 million, or diluted earnings per share (EPS) of $0.17, below the consensus estimate of $0.18. This marks the company's fourth consecutive profitable quarter. Despite these gains, the stock fell over 11% in after-hours trading due to the earnings miss. Assets under custody surged to $152.2 billion from $86.5 billion a year earlier, driven by net deposits of $39 billion and market gains of $26.7 billion. Monthly active users totaled 11 million, missing the estimated 12.6 million, while gold subscribers increased 65% year-over-year to 2.2 million. The company reported that net revenue was reduced by $27 million this quarter due to promotions offered to customers transferring balances from other brokerages. Robinhood's crypto trading volume grew 112% year-over-year to $14.4 billion, with crypto revenue rising 165% to $61 million.