The post Robinhood (HOOD) Sees Record Growth in Q4 2024 with 115% Revenue Increase appeared on BitcoinEthereumNews.com.

Timothy Morano Feb 13, 2025 16:18 Robinhood achieved significant growth in Q4 2024, with revenues soaring by 115% year-over-year, driven by a surge in crypto trading and strategic expansions. Robinhood Markets, Inc. (NASDAQ: HOOD) has reported a remarkable fourth quarter for 2024, with total net revenues hitting $1.01 billion, marking a 115% increase compared to the same period in the previous year, according to GlobeNewswire. This surge in revenue is largely attributed to a significant boost in transaction-based revenues, particularly from cryptocurrency trading. Key Financial Highlights Transaction-based revenues skyrocketed over 200% year-over-year to $672 million in Q4 2024, mainly driven by a 700% increase in cryptocurrencies revenue, which reached $358 million. Options and equities revenues also saw substantial growth, up 83% and 144%, respectively. Net interest revenues increased by 25% to $296 million, supported by growth in interest-earning assets. Meanwhile, other revenues rose by 31% to $46 million, primarily due to increased Gold subscription revenues. Net income for Q4 soared over tenfold to $916 million, translating to a diluted EPS of $1.01, compared to $30 million or $0.03 EPS in Q4 2023. Adjusted EBITDA also saw an impressive increase of over 300% to $613 million. Strategic Expansions and Product Developments Throughout 2024, Robinhood accelerated its product development initiatives, launching a new platform for active traders, introducing the Gold Card, and expanding its product suite in the UK and EU. CEO Vlad Tenev expressed optimism about the future, highlighting Robinhood’s commitment to enabling users globally to manage any financial asset via their platform. The company has also made significant strides in expanding its cryptocurrency offerings. Crypto notional volumes increased over 400% year-over-year, reaching $71 billion in Q4 2024. Robinhood has added seven new crypto assets in the U.S. and launched Ethereum (ETH) staking in the EU. Additionally, Robinhood announced its plans…

---

Filed under: News - @ February 14, 2025 2:22 am