Robinhood (Nasdaq: HOOD) is riding high. The trading platform delivered a blowout Q4 2024, surpassing expectations across the board and setting new records. Its revenue hit $1.01 billion, crushing Wall Street’s consensus estimate of $849.06 million. Earnings per share soared to $1.01, triple the projected $0.32.  

The market responded swiftly. Robinhood’s stock price jumped 15.3% in after hours trading, reaching an all time high of $64.47 per share. Yeartodate, the stock has climbed 42%, with a jaw dropping 365% return over the past year.  

 Crypto Revenue Takes the Lead  

Robinhood’s revenue story is all about cryptocurrency. For the first time, crypto trading became the platform’s largest revenue driver, raking in $358 million. That marks a staggering 700% year over year increase. This figure eclipsed options trading revenue, which brought in $222 million, despite growing 83%. Meanwhile, equities trading revenue also rose sharply, up 144% to $61 million.  

In total, transaction based revenue hit $672 million, up 200% from the prior year. But Robinhood didn’t just stop there. Interest income rose 25% to $296 million, driven by growth in interest earning assets. Another $46 million came from subscriptions.  

 Record Profits and Growing User Base  

Robinhood’s bottom line is equally impressive. Net income rocketed to $916 million, a tenfold increase, helped by a $369 million deferred tax benefit and a $55 million regulatory settlement reversal.  

The platform’s growth isn’t just about dollars. Customer metrics are surging too. The number of funded accounts rose 8% to 25.2 million, while investment accounts grew 10% to 26.2 million. Customer deposits reached $16.1 billion, and the average revenue per user more than doubled to $164.  

“Q4 was a record breaking quarter that caps off a record setting year in 2024,” said Jason Warnick, Robinhood’s CFO.  

 Expanding Horizons  

Robinhood isn’t slowing down. The company recently launched options trading in the UK and is expanding its global cryptocurrency offerings. In the U.S., it’s rolling out futures trading to diversify its portfolio further.  

“We see a huge opportunity ahead of us,” said Vlad Tenev, Robinhood’s CEO. “Our goal is to enable anyone, anywhere, to buy, sell, or hold any financial asset.”  

With its explosive growth in crypto and strong customer engagement, Robinhood is proving it’s more than just a trading platform—it’s becoming a global financial powerhouse.