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Robinhood Stock Hits All-Time High as Soaring Crypto Trading Powers Q4 Profit

Robinhood Markets, Inc. logo appears on the screen of a smartphone

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Key Takeaways

  • Robinhood Markets reported fourth-quarter profit that was more than double estimates on booming cryptocurrency trading.
  • The trading platform's revenue more than doubled, and crypto trading revenue made up more than half of overall transaction-based revenue.
  • Robinhood set records for EPS, revenue, adjusted EBITDA, assets under custody, net deposits, and Gold Card program subscribers.

Robinhood Markets (HOOD) shares soared to an all-time high Thursday, a day after the online trading site blew away profit and sales estimates as investors used its platform to pour money into cryptocurrencies.

The company reported fourth-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.01, more 🀅than double the $0.44 estimate by analysts surveyed by Visible Alpha. Revenue more than doubled to $1.01 billion, solidly ahead of forecasts as well.

Transaction-based revenues s﷽kyrocketed 236% to $672 million, with $358 million of that coming fro☂m crypto trades. That total was more than 700% higher than the year before.

CFO Jason Warnick ticked off all the records Robinhood set in both the quarter and the year: EPS, revenue, adjusted EBITDA, assets under custody, net deposits, an💞d subscrཧibers to its Gold Card program.

Co-founder and CEO Vlad Tenev noted that the results were boosted by the company's expansion, saying, "We hit the gas on product development in 2024 with a new platform for active traders, Gold Card launch, an expanded UK and EU product suite, and much more."

Shares of Robinhood Marketplace surged 14% to $63.73 after earlier touching a record $65.87. They have gained about 400% in the past year.

HOOD

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