Robinhood shares surge as crypto market frenzy fuels record results

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Robinhood shares surge as crypto market frenzy fuels record results

//business-finance.news-articles.net/content/202 .. s-crypto-market-frenzy-fuels-record-results.html

Published in Business and Finance on Thursday, February 13th 2025 at 5:40 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Robinhood shares surged nearly 16% in premarket trading on Thursday, after the trading platform reported record fourth-quarter revenue and profit on the back of a resurgence in retail trading due to renewed interest in crypto and equity markets.

Robinhood Markets Inc. reported a significant surge in its shares, rising by 13% in premarket trading on February 13, 2025, following the announcement of record-breaking financial results driven by a frenzy in the cryptocurrency market. The trading platform benefited from a quadrupling of crypto trading volumes, with Bitcoin and other digital assets experiencing a sharp increase in value. This led to a 165% year-over-year revenue increase to $1.87 billion in the fourth quarter, surpassing Wall Street expectations. Additionally, Robinhood's net income reached $157 million, a stark contrast to the $166 million loss reported in the same quarter the previous year. The company also saw a 40% increase in its user base, now at 23.9 million funded customers, and a 65% jump in assets under custody to $102.6 billion. These results reflect not only the crypto market's volatility but also Robinhood's strategic expansion into new markets and products, including retirement accounts and credit cards.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/robinhood-shares-surge-crypto-market-frenzy-fuels-record-results-2025-02-13/ ]