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Robinhood Markets (HOOD) stock is seeing gains in Wednesday's extended hours trading after topping fourth quarter earnings estimates, reporting net revenue of $1.01 billion (beating expectations of $940.8 million) and earnings per share of $1.01.
Julie Hyman and Josh Lipton report more on Robinhood's earnings release, highlighting the brokerage platform's crypto revenues.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
This post was written by Luke Carberry Mogan.
Let's also get to Robinhood, Robin Hood out with its latest numbers here. Um, that company coming out with revenue of 1.01 billion dollars. That's ahead of the 941 million or so that analysts had been anticipating. Crypto revenue driving some of those gains as analysts had projected 358 million dollars in crypto revenue specifically. That was above estimates. Assets under custody in the fourth quarter reaching 193 billion dollars. That, too, above estimates. The company's earnings per share coming in at a buck 01 and I've got to look and see what the comps are for that one. It looks like that that is a beat of estimates. And really what analysts and investors were looking for here, indeed, was some of the crypto enthusiasm driving the volumes, driving the action on the platform. And it looks like that that indeed was at least part of what drove the beat here for the company and what's driving this.
This stock was already up about 365% over the past 12 months. I mean, just an incredible run. I mean a lot of enthusiasm and part there were certain investors, Julie were betting on this as a as a win for a company that would benefit from having a new crypto ally in the White House. Um, I think what execs see ahead for that market will be interesting. Interest rates higher for longer, what they mean for that business. I just find Robin is interesting company in involving story, you know, it was like he was brokerage services and commission-free trading, and now Vlad expanding to all retirement and credit cards, just trying to attract more investors and different kinds of investors.
Well, and to your point, kind of the ecosystem and the engagement on the platform, they have this gold subscription program now, and they tout some of the numbers there. Gold subscribers up 1.2 million. That is an 86% year-over-year gain. They now have 2.6 million of those gold subscribers as they've really been pushing that program of some of their, um, you know, most active customers, I guess you would say. So that helping matters as well here. And basically, um, the company just touting all of the records that they reached in the quarter in their statement here. They talked about Vlad in the statement saying, "We hit the gas on product development in 2024." To your point, like really rounding out Robinhood to beyond just a brokerage platform with all these other services. A new platform for active traders, he said, the gold card launch, expanded EU and UK product suite. So just a few examples of what they've been doing.
That's how I we both just referred to him as Vlad. You know, it's informal. It's a friendly show. It's like sure.
Really is, okay.
