BUZZ-Robinhood surges after record quarterly profit
ReutersFeb 12, 2025 10:45 PM
Shares of trading platform Robinhood HOOD.O surge 14.4% to $63.97 in after-hours trading
Company reports a surge in fourth-quarter profit, fueled by frenetic activity in equity and crypto markets following Donald Trump's election victory
HOOD posts a profit of $916 million, or $1.01 per share, in the fourth quarter, up significantly from $30 million, or 3 cents per share, a year earlier.
Company booked a deferred tax benefit of $369 million, or 41 cents per share, primarily from the release of its valuation allowance on most of its net deferred tax assets - Robinhood
HOOD shares jumped 192.5% in 2024
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