Coin

<ul class="news-points"> 
 <li>Robinhood has gained a net profit of 3 cents per share in 2023 Q4, though analysts estimated a loss of $0.01.</li> 
 <li>Q4 marks the second profitable quarter since Robinhood’s launch, with a net revenue growth of 24%.</li> 
 <li>Despite 2022 Q4’s loss of $166 million, 2023 Q4 marked a gain of $30 million in net income.</li> 
</ul> 
In an astounding <a href="https://www.bloomberg.com/news/articles/2024-02-13/robinhood-shares-rise-as-fourth-quarter-revenue-beats-estimates" target="_blank" rel="nofollow">revelation</a>, financial giant Robinhood unearthed the remarkable 24% growth in the company’s net revenue in the fourth quarter of 2023. The <a href="https://www.sec.gov//Archives/edgar/data/1783879/000178387924000047/q42023robinhoodexhibit991.htm" target="_blank" rel="nofollow">report</a> marked 2023 Q4 as the second profitable quarter since the launch of the platform. 
Though the analysts previously <a href="https://www.reuters.com/business/finance/robinhoods-q4-revenue-rises-interest-income-boost-2024-02-13/" target="_blank" rel="nofollow">predicted</a> that the company would face a loss of $0.01 per share, Robinhood announced a surprise profit of 3 cents. Surpassing analysts’ estimation of $457 million, Robinhood amassed a net revenue of $471 million in the last quarter of 2023. 
Overall, 2023 marked a profitable year, with the Q4 standing appreciable. The quarter gained a net income of $30 million, which is noteworthy compared to 2022 Q4’s net loss of $166 million. Acknowledging the company’s notable growth, Jason Warnick, the company’s Chief Financial Officer, commented, 
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 Looking at revenues, with the current ma…
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The post <a href="https://coinedition.com/2023-q4-marks-robinhoods-second-profitable-quarter-since-its-launch/">2023 Q4 Marks Robinhood’s Second Profitable Quarter Since Its Launch</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

2023 Q4 Marks Robinhood’s Second Profitable Quarter Since Its Launch

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