Robinhood completed 2024 on a excessive be aware, because of its $1 billion development within the fourth quarter, which exceeded analysts’ estimates. The corporate’s fourth-quarter income hit $1.01 billion, beating analysts’ estimates of $940.8 million. Additionally, Robinhood’s crypto buying and selling quantity surged by 700%, banking $358 million.
As Bloomberg and different media retailers reported, the favored brokerage was buoyed by curiosity within the crypto market throughout the US election cycle. The corporate’s fourth-quarter income was $1.01 billion, beating analysts’ estimates of $940.8 million.
Robinhood Benefitted From Surge In Crypto Buying and selling In This fall
In response to a Bloomberg report, Robinhood noticed a surge in crypto buying and selling within the fourth quarter of 2024. The corporate’s crypto buying and selling quantity elevated by 700%, reflecting a complete income of $358 million.
Robinhood’s spectacular fourth-quarter efficiency compensated for its poor third-quarter efficiency with $14.4 billion in revenues, an enormous drop from the primary quarter’s $36 billion.
The corporate benefited from elevated buying and selling exercise within the final quarter of the yr, fueled by enthusiasm over the outcomes of the US elections. This was additionally the time when Bitcoin surged previous the $100k mark.
📢 Robinhood Soars 15% After Blowing Previous This fall Revenue Estimates 🚀📊
🔹 This fall income surpasses $1B for the primary time in firm historical past 💰
🔹 Transaction-based income up 236% YoY to $672M, fueled by buying and selling frenzy 📈
🔹 Crypto buying and selling income surges 700% as Bitcoin nears $100K… pic.twitter.com/VFhqMJTmZ7— AFV GLOBAL (@afvglobal) February 13, 2025
Robinhood Expands Cryptocurrency Choices
Robinhood expanded its cryptocurrency choices by including seven new tokens for its US prospects to handle the rising market calls for. It additionally launched its ETH staking companies for patrons primarily based within the European Union.
The favored brokerage additionally expanded its companies in Spain, complying with the newest EU’s MiCa rules. Robinhood now boasts cryptocurrency buying and selling staking and helps viral digital property just like the TRUMP coin.
In response to CEO Vlad Tenev, the corporate centered on its product improvement in 2024. In a press release, Tenev shared that it discovered a possibility and now provides its prospects a safe approach to commerce or maintain digital property.
BTCUSD buying and selling at $96,811 on the day by day chart: TradingView.com
A Streak Of Worthwhile Quarters
Robinhood continues to develop its profitability, extending its streak to a fifth quarter of internet optimistic revenue. The corporate’s fourth-quarter outcomes beat final yr’s internet revenue at $0.03 per share. Additionally, Robinhood’s diluted earnings per share elevated to $1.01, reflecting robust monetary efficiency.
The brokerage ends the yr with $193 billion in whole property beneath custody (AUC), an 88% improve from final yr. Robinhood’s development in whole property was supported by elevated valuations in digital property and equities, together with the rising internet deposits from prospects.
Additionally, the corporate’s fairness buying and selling worth surged to $423 billion within the quarter, a 154% improve from final yr. The reported improve in revenue makes Robinhood one of many best-performing retail buying and selling platforms for the quarter.
Featured picture from Gemini Imagen, chart from TradingView
