Robinhood completed 2024 on a excessive word, due to its $1 billion development within the fourth quarter, which exceeded analysts’ estimates. The firm’s fourth-quarter income hit $1.01 billion, beating analysts’ estimates of $940.8 million. Also, Robinhood’s crypto buying and selling quantity surged by 700%, banking $358 million.
As Bloomberg and different media shops reported, the favored brokerage was buoyed by curiosity within the crypto market throughout the US election cycle. The firm’s fourth-quarter income was $1.01 billion, beating analysts’ estimates of $940.8 million.
Robinhood Benefitted From Surge In Crypto Trading In This fall
According to a Bloomberg report, Robinhood noticed a surge in crypto buying and selling within the fourth quarter of 2024. The firm’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, a large drop from the primary quarter’s $36 billion.
The firm benefited from elevated buying and selling exercise within the final quarter of the 12 months, 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 Past This fall Profit 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 Offerings
Robinhood expanded its cryptocurrency offerings by including seven new tokens for its US clients to deal with the rising market calls for. It additionally launched its ETH staking providers for purchasers primarily based within the European Union.
The standard brokerage additionally expanded its providers in Spain, complying with the newest EU’s MiCa laws. Robinhood now boasts cryptocurrency buying and selling staking and helps viral digital property just like the TRUMP coin.
According to CEO Vlad Tenev, the corporate targeted on its product improvement in 2024. In an announcement, Tenev shared that it discovered a chance and now gives its clients a safe solution to commerce or maintain digital property.
BTCUSD buying and selling at $96,811 on the each day chart: TradingView.com
A Streak Of Profitable Quarters
Robinhood continues to develop its profitability, extending its streak to a fifth quarter of web constructive revenue. The firm’s fourth-quarter outcomes beat final 12 months’s web revenue at $0.03 per share. Also, Robinhood’s diluted earnings per share elevated to $1.01, reflecting sturdy monetary efficiency.
The brokerage ends the 12 months with $193 billion in whole property underneath custody (AUC), an 88% enhance from final 12 months. Robinhood’s development in whole property was supported by elevated valuations in digital assets and equities, together with the rising web deposits from clients.
Also, the corporate’s fairness buying and selling worth surged to $423 billion within the quarter, a 154% enhance from final 12 months. The reported enhance 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
