"Robinhood's Record Revenues and Surprising Profits Drive Stock Surge"
Robinhood Markets Inc reported a record $1.9 billion in revenues for 2023, with Q4 net income at $30 million, a significant improvement from the previous year. The company also saw a 62% increase in Adjusted EBITDA and a 65% surge in Assets Under Custody. Despite a decrease in Monthly Active Users, key metrics such as Funded Customers and Net Deposits reflect the company's ability to attract and retain customers. Robinhood plans to invest in new products, features, and international expansion, projecting operational expenses for 2024 to be in the range of $1.85 billion to $1.95 billion.
