Robinhood reported a record-setting $916 million net income for Q4 2024, fueled largely by a 700% year-on-year increase in crypto revenue. This strong performance led to a 17% surge in shares during after-hours trading. The company surpassed consensus estimates, marking its fifth consecutive profitable quarter. Crypto revenue reached $358 million, accounting for over half of Robinhood's $672 million transaction-based revenues, which saw over 200% growth year-on-year. Additionally, crypto trading volumes soared 450% year-over-year to $71 billion. CFO Jason Warnick highlighted a record-setting year with $1 billion in total revenue and significant increases in assets under custody and net deposits. The broader market experienced heightened trading activity in Q4, further boosting Robinhood's performance. Following the Q4 results, HOOD shares saw an increase of 4.82% during the trading session before rising another 17.1% after-hours. In June, Robinhood announced an agreement to acquire a company for $200 million to enhance services for institutional investors, pending regulatory approval expected in early 2025.

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