The online brokerage’s stock soared in 2024 as investors flooded back into crypto to trigger another bull market.

Robinhood Markets, the Menlo Park, California-based firm that rose to prominence during the 2021 GameStop short squeeze, surpassed $1 billion in revenue during its fourth quarter. The surge was largely driven by the success of its crypto trading operation during the 2024 presidential election,

Key Takeaways Robinhood Markets reported fourth-quarter profit that was more than double estimates on booming cryptocurrency trading.The trading platform's revenue more than doubled, and crypto trading revenue made up more than half of overall transaction-based revenue.