US retail broker Robinhood published its fourth quarter and full year results for 2024 on Wednesday..
The broker said that revenues for the year came in at $2.95bn, up 58% on 2023.
Net income for the year was $1.95bn, although that included a deferred tax benefit of $369m. That was a huge improvement on 2023, when the company saw a loss of around $540m.
Quarterly revenues were up massively to $1.01bn.
That was in large part due to a huge increase in crypto trading on the company’s platform. Revenues from crypto trading were $358m for the final three months of 2024.
That represented a more than 700% increase on the final quarter of 2023. It was also a near six-fold increase compared to the third quarter of 2024.
The other key contributor to earnings was interest income. This totalled $296m, with the largest individual segment of that coming from margin interest, which totalled $91m.
