Record-Breaking Earnings Report

Robinhood Markets Inc. witnessed an unprecedented surge in its shares, jumping over 17% following the announcement of its record earnings for the fourth quarter of fiscal 2024. The company's revenue soared to $1.01 billion, marking a 115% increase compared to the previous year. This remarkable growth was significantly fueled by a 700% rise in cryptocurrency transaction revenue, which amounted to $358 million.

Financial Highlights

With a net income of $916 million, or $1.01 per diluted share, Robinhood has demonstrated its robust financial health and the growing popularity of its platform among investors. The stock price reached $65.17, reflecting the market's positive reception to the company's financial achievements.