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What will be the percentage increase in Robinhood's crypto trading volume in Q4 2024?
2
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Less than 50% • 25%
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Robinhood's official quarterly earnings report for Q4 2024
Story
Robinhood Posts Quarterly Profit Amid 112% Surge in Crypto Trading Volume to $14.4 Billion
Oct 30, 2024, 09:07 PM
Robinhood has reported a quarterly profit driven by strong retail trading. The brokerage's crypto trading volume increased by 112% year-over-year, reaching $14.4 billion, with crypto revenue rising 165% to $61 million. Despite the impressive growth in crypto trading, Robinhood's overall revenue missed analyst estimates due to a customer promotion program that required the firm to offset a portion of the haul. The program led to a $27 million reduction in net revenues. Consequently, Robinhood shares fell following the earnings report.
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