Robinhood pleasantly surprised investors with his number template on Wednesday. The stock could then grow vigorously. That is why the upward trend could continue in the future.
• Robinhood convinces with the number template
• Neobroker with strong growth
• Crypto business as an important factor
Robinhood increases sales and profits
Robinhood announced its quarterly results and annual results on Wednesday after the US exchange conclusion. Robinhood earned significantly more in the fourth business quarter of 2024. The profit per share jumped from $ 0.03 to $ 1.01. The company has thus exceeded the market expectations that had amounted to an EPS of $ 0.411 in advance.
Sales climbed 115 percent to $ 1.01 billion. Robinhood thus exceeded expectations: analysts had previously promised sales of $ 934.9 million.
Crypto business drives growth
The neobroker had strong growth on a broad front. The assets were kept by 88 percent to $ 193 billion per year and, according to Robinhood, was powered by persistent net deposits and higher stock and cryptocurrency ratings. The number of investment accounts increased by 10 percent to 26.2 million, the average sales per user rose by $ 102 percent per year to $ 164 and the number of paying Robinhood gold subscribers to 2.6 million.
The crypto business was an essential factor for Robinhood’s growth. The transaction-based sales rose by over 200 percent to $ 672 million in the year, of which $ 358 million was crypto-based. This was an increase in crypto -based income by more than 700 percent compared to the previous year.
Is Robinhood further penetrate into the cryptom market?
This shows that Robinhood has benefited from the latest crypto rally – and so the company could continue to penetrate into the cryptom market, which could continue growth in this area in the future.
An example of this: CFO Jason Warnick mentioned in the winning announcement on Wednesday that Robinhood mentioned the tokenization of real assets, such as stocks traded on stock exchanges, stocks or other real assets, reports Marketwatch. “If you can use blockchain technology to tok it, customers have access to what a good starting point is, but then you can act around the clock and bill it almost immediately. This has a great advantage for the user experience” , he said. “I think we are really well positioned to implement this idea of token real assets and make it available to customers.” According to Warnick, Robinhood’s position at the interface between traditional finance and crypto makes the company a good candidate in order to move in this area.
Robinhood share inspired
Should Robinhood be able to advance its growth – possibly thanks to the crypto business -, the Robinhood share could also continue to drive. On Thursday, the papers ultimately increased by 14.11 percent to $ 63.80 after the number template. In the meantime, it is slightly 0.24 percent down to $ 63.65. Analysts still see upward potential: The average price target of the 16 Wall Street analysts, which have offered 12-month course goals for Robinhood in the past 3 months, is 68.43 US dollars and thus $ 7.26 Closing course of Thursday.
Editor finance.net
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