Robinhood’s income doubles, stimulated cried crypto trading

(Bloomberg) – Robinhood Markets Inc. They reported revenues to have more than doubled as the Government’s trade company floated crypto-market transactions of the surroundings of American presidential elections.

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The income rose to 1.01 billion dollars in the fourth quarter, beating analyst on a wall street estimate of $ 940.8 million for a three-month period. Cryptocurne income has also exceeded expectations, increasing more than 700% to $ 358 million.

“We included gas on product development in 2024. years,” said CEO of Vlad Tennev in Statement on Wednesday. “We see a great opportunity ahead of us as we work on anyone, anyone, to buy, sell or hold any financial asset and implement any financial transaction through birth.”

The company’s shares increased by more than 15% in the extended Square for New York.

Cripto-friendly

The Fervor’s cryptocurrency trader was a key factor in Robunj salary. It leads to November elections, President Donald Trump promised that “Pro-Bi Bitcoin President”, and so far remained faithfully to that statement, signing the Executive Order last month to establish a working group on digital property. During the fourth quarter, Bitcoin traded over $ 100,000 during the month after the gathering during the day after the day of the election.

Robinhood matured from his early meme-shares – Mllo Park, a California headquarters now offers pension products – but continues to push borders. After the launch of his contracts on focusing events in the elections, the RobinHiority had in mind the subordinated agreements on sports events. The day later, the company drew the offer after revealed that she received a formal request for the suspension from the trade commission of the commodity.

The detection of comprehensive events contracts is “top of the mind” for the company, Tenev said on Wednesday that he called on analysts on Wednesday. The Robinhouse plans not only to the leader in space, but to stick to the clarity of the industry, he said.

The company’s results indicate five sequential premises of positive net income, and earnings of $ 916 million, or $ 1.01 stake, within the time. The prospects of looming for combined custom operating costs and compensation based on partial based on this year is $ 2 billion to $ 2.1 billion.

The Chief Financial Director of Jason Varnick said that on Wednesday, revenue growth will increase the two-digit digits this year again.

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