After-hours trading of Robinhood surged more than 10% as its Q4 revenue and profit exceeded expectations.

Robinhood announced its financial performance for the fourth quarter and full year of 2023. Both Q4 revenue and profit exceeded market expectations, leading to a post-market increase of over 10% in the stock price. Q4 revenue reached $471 million, a YoY growth of 23.96%. Net profit was $30 million, with diluted earnings per share of $0.03. Net interest income grew by 41% YoY, driven by the growth of interest-earning assets and rising short-term interest rates. Trading-based revenue increased by 8% YoY, fueled by cryptocurrency and stock trading activities. Monthly active users decreased by 4% YoY, while gold subscription users increased by 25% YoY. As of the end of Q3 2023, Robinhood had a net deposit of $4.6 billion, with custodial assets growing by 65% YoY.