Robinhood, a leading online brokerage firm, exceeded earnings and revenue estimates for its fourth quarter on Wednesday after market close. The company’s stock price surged in late trading, further indicating investor confidence.
In the quarterly earnings release, Chief Financial Officer Jason Warnick stated that the fourth quarter was “a record-breaking quarter that caps off a record-setting year in 2024.” This positive assessment marks a significant turnaround for Robinhood, which had previously reported a loss in the third quarter of 2024.
For the full year, Robinhood swung to profitability from a previous loss, demonstrating the company’s resilience and adaptability in an increasingly competitive market.
The strong quarterly performance has also contributed to a surge in Robinhood’s stock price, leaving investors optimistic about the company’s future prospects.
Source: https://www.investors.com/news/robinhood-earnings-q4-robinhood-stock