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Thu, February 13, 2025

Robinhood surges 15% after a blockbuster quarter. The CEO says it's now a place for 'people's serious money.'


Published on 2025-02-13 03:41:09 - MSN
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  • The company said it finished the fourth quarter with $1.3 billion in net transfers, more than any other brokerage.

Robinhood Markets Inc. experienced a significant 15% surge in its stock price following an impressive quarterly earnings report. The company reported a 40% increase in assets under custody, reaching $130 billion, and a 42% rise in deposits, totaling $11.2 billion. This growth was attributed to a 65% increase in Gold subscribers, who pay for premium services, and a 22% increase in net deposits. CEO Vlad Tenev highlighted that Robinhood is now seen as a platform for "serious money," with users increasingly using it for long-term investments rather than just short-term trading. The company also noted a 16% increase in monthly active users, now at 10.9 million, and a 14% rise in its crypto business, despite regulatory challenges in the sector. Robinhood's strategic focus on attracting more serious investors and expanding its offerings has evidently paid off, positioning it as a more mature financial service provider.

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