Timothy Morano
February 13, 2025 16:18
ROBINHOOD achieved significant growth in the fourth quarter of 2024, and sales increased 115% year -on -year due to the surge in encryption trading and strategic expansion.
According to Globenewswire, Robinhood Markets, Inc. (NASDAQ: HOOD) reported in the fourth quarter in 2024, totaling net sales of $ 10.1 billion, and increased 115% compared to the same period last year. This surge in revenue is especially because the transaction -based income has been greatly improved in Cryptocurrency transactions.
Major financial highlights
Trading -based sales surged to $ 670 million, up more than 200% year -on -year in the fourth quarter of 2024, and the number of cryptocurrency sales increased by 700% to $ 350 million. Options and stock revenue grew to 83% and 144%, respectively.
Net interest sales have increased to $ 296 million, up 25%, which is supported by the growth of interest assets. Other sales, on the other hand, are mainly $ 46 million, up 31% due to increased gold subscription imports.
Q4’s net profit surged from $ 1 billion to $ 996 million, converted to EPS $ 1.01 diluted compared to $ 30 million or $ 0.03 in the fourth quarter of 2023. The adjusted EBITDA also showed an impressive increase of more than 300% of $ 663 million.
Strategic expansion and product development
In 2024, ROBINHOOD accelerated product development initiatives, launched a new platform for Active Traders, introduced gold cards, and expanded the product line in the UK and the EU. VLAD TENEV CEO expresses optimism about the future, emphasizing Robinhood’s promise to allow users around the world to manage financial assets through the platform.
The company has also made great progress in expanding Cryptocurrency offering. Crypto Notional Volumes increased more than 400% year -on -year, reaching $ 71 billion in the fourth quarter of 2024. Robinhood added seven new password assets to the United States and started Ethereum (ETH) in the EU. ROBINHOOD also announced plans to acquire Bitstamp, the world’s longest -lasting cryptocurrency exchange, which is expected to close in the first half of 2025.
2024 performance
In 2024, Robinhood’s total net profit increased to $ 29.5 billion, up 58%. Net profit was reported to be $ 14.1 billion, and in 2023, a significant shift was caused by net loss. This year, the operating cost decreased to $ 19 billion, down 21%.
In 2025, the plan to enter the Asia -Pacific market, and Robinhood’s strategic focus on global footprints has become clear, and Singapore was established as a regional headquarters. The company also began to provide optional transactions with British customers.
Future prospect
ROBINHOOD aims to continue the growth trajectory by focusing on launching new products, expanding international expansion, and improving existing operations ahead of 2025. The company’s 2025 cost plan emphasizes investments in this area, and the adjusted operating cost and stock -based compensation are $ 2 billion to $ 2.1 billion.
In 2024, Robinhood’s strong performance sets a powerful foundation through ambitious plans, using more user base and expanding product operations to lead to more growth.
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