By Hannah Erin Lang
Robinhood posted a sharp jump in quarterly profit, fueled by a flurry of post-election trading activity.
-- The online brokerage reported late Wednesday that net income totaled $916 million, or $1.01 a share, last quarter, up from $30 million, a year earlier.
-- Analysts were expecting a per-share profit of 42 cents, according to FactSet.
-- Revenue more than doubled, to $1.01 billion. That total also exceeded analysts' estimates.
-- Revenue on customer trades tripled to $672 million, more than half of which came from cryptocurrency trades.
The stock jumped 15% in premarket trading.
Robinhood was a big winner of the "Trump bump:" the end-of-year market rally marked by investors' hopes that Donald Trump's election victory would usher in a more business-friendly administration.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
February 13, 2025 04:36 ET (09:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。