"Robinhood's Surging Stock and Crypto Revenue Propel Company to Surprise Profit"

Online broker Robinhood surprised with a profitable fourth quarter in 2023, swinging to earnings of three cents per share from a year-ago loss of 19 cents per share as stock and crypto trading demand rebounded. The company's revenue of $471 million exceeded expectations, driven by a 41% increase in net interest revenues and a growth in transaction-based revenue, particularly from cryptocurrencies. Despite a 4% decline in Monthly Active Users, Robinhood's stock spiked 14.8% in late trading, reflecting investor optimism.