Robinhood Shares Soar After Q4 & Full-Year 2024 Results

Robinhood Markets reached a new 52-week high in after-hours trading on Wednesday after sharing impressive Q4 and full-year 2024 financial results. The company posted record quarterly revenues and net profits, surpassing analysts’ expectations.

Following a somewhat disappointing Q3, which reported $637 million in revenues and $150 million in net profit, Robinhood’s Q4 2024 revenues skyrocketed by 59% quarter-over-quarter (QoQ) and 115% year-over-year (YoY) to a record $1.01 billion. The Q4 net income surged over 10 times YoY to a record $916 million, translating into diluted earnings per share (EPS) of $1.01.

A key driver of Robinhood’s growth was a significant surge in transaction-based revenues, particularly from cryptocurrency trading. Crypto revenue in Q4 hit $358 million, up from just $61 million in Q3.

Robinhood Shares Soar After Q4 & Full-Year 2024 Results

The positive results sparked a notable after-hours rally, with Robinhood’s stock rising by around 11%, reaching just over $62 per share, up from the $55.91 close earlier in the day. The stock’s previous 52-week high was $57.27 before the after-hours jump.

Additional highlights for Q4 include a record $16 billion in net deposits, an 86% YoY increase in Robinhood Gold subscribers to 2.6 million, and an impressive 300% YoY increase in adjusted EBITDA to $613 million.

Robinhood CEO and co-founder Vlad Tenev remarked, “We hit the gas on product development in 2024 with new offerings for active traders, an expanded product suite in the UK and EU, and more. We see a huge opportunity ahead to enable anyone, anywhere, to transact any financial asset through Robinhood.”

CFO Jason Warnick emphasized the company’s strong momentum, noting record highs in various financial metrics for both Q4 and the full year. As Robinhood heads into 2025, it remains focused on achieving continued profitable growth.

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