** Shares of trading platform Robinhood HOOD.O surge 14.4% to $63.97 in after-hours trading
** Company reports a surge in fourth-quarter profit, fueled by frenetic activity in equity and crypto markets following Donald Trump's election victory
** HOOD posts a profit of $916 million, or $1.01 per share, in the fourth quarter, up significantly from $30 million, or 3 cents per share, a year earlier.
** Company booked a deferred tax benefit of $369 million, or 41 cents per share, primarily from the release of its valuation allowance on most of its net deferred tax assets - Robinhood
** HOOD shares jumped 192.5% in 2024
(Reporting by Jaiveer Singh Shekhawat in Bengaluru)
((JaiveerSingh.Shekhawat@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.