Cointime

Cointime

Download App
iOS & Android
Home / Point

Revolut sees pre-tax profit in 2024 boosted by customer growth and £1bn in crypto trading

the financial technology giant Revolut's pre-tax profit is expected to double by 2024, reaching 1 billion pounds (1.3 billion dollars) driven by rapid customer growth and the resurgence of cryptocurrency trading. According to the annual report released on Thursday, April 24, profits for Revolut soared from 438 million pounds in 2023, while revenue jumped from 18 billion pounds to 31 billion pounds.

One key factor in Revolut's strong performance is its wealth division, which includes stock and digital asset trading. With the rebound in cryptocurrency trading activity, this division generated 506 million pounds in revenue, almost four times that of 2023.

Comments

All Comments

Recommended for you

  • cointime子凡 ·

    From Model Gateway to Agent Production Network: UniKey’s Strategic Upgrade Is Aligning with the Next Phase of AI

    From Model Gateway to Agent Production Network: UniKey’s Strategic Upgrade Is Aligning with the Next Phase of AI

  • US Spot Bitcoin ETF Sees Net Outflow of $120.2 Million Yesterday

    On September 10, according to monitoring data from Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $120.2 million yesterday.

  • US Spot Bitcoin ETF Sees Net Outflow of $120.2 Million Yesterday

    On September 10, according to monitoring data from Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $120.2 million yesterday.

  • US Spot Ethereum ETF Sees $34.7 Million Net Inflow Yesterday

    On September 10, according to monitoring data from Farside Investors, the US spot Ethereum ETF saw a net inflow of $34.7 million yesterday.

  • Iran Announces Escalation of Strikes in Response to U.S. Attacks

    On September 10, it was reported that an Iranian official stated that Tehran is prepared to engage in a more intense conflict with the United States if necessary. The official indicated that Iran would respond to U.S. attacks with escalated strikes. Iran views this conflict as a 'battle for survival.' The official remarked that Iran has 'no choice but to fight.'

  • Iran to Intensify Strikes in Response to U.S. Attacks

    On September 10, it was reported that an Iranian official stated that Tehran is prepared to engage in a more intense war with the United States if necessary. The official indicated that Iran will escalate its strikes in response to U.S. attacks, viewing this conflict as a 'battle for survival.' The official remarked that Iran has 'no choice but to fight.'

  • U.S. Treasury Announces Debt Buyback Size: Up to $6 Billion

    On September 9, the U.S. Treasury will buy back up to $6 billion in long-term bonds on Thursday. Previously, the U.S. Treasury indicated that before November 4, the size of a single long-term bond buyback would at least double to $4 billion.

  • U.S. Treasury Announces Debt Buyback Size: Up to $6 Billion

    On September 9, the U.S. Treasury will buy back up to $6 billion in long-term bonds on Thursday. Previously, the U.S. Treasury stated that before November 4, the size of a single long-term bond buyback would at least double to $4 billion.

  • Bank of America Reports Sixth Largest Weekly Inflow into US Stocks Since 2008, Driven by Institutions and Hedge Funds

    Data from Bank of America shows that last week, the US stock market recorded its sixth largest weekly inflow since 2008, marking the largest scale since mid-July. Bank of America strategist Jill Carey Hall noted that this round of inflows was primarily driven by institutional investors and hedge fund clients, with net purchases of US stocks for the second consecutive week. The funds mainly flowed into individual stocks and equity ETFs. In terms of sectors, 8 out of the 11 sectors in the S&P 500 saw net inflows, with the technology sector leading the gains, and the communication services sector receiving inflows for the first time in five weeks. The industrial sector experienced the largest outflow, facing selling pressure for the fifth consecutive week, with Hall stating that this sector is the most competitive and has the highest costs. In terms of stock preferences, clients favored large and mid-cap stocks while selling small-cap stocks. In contrast to professional institutions, retail clients have been net sellers of stocks for six consecutive weeks.

  • Bank of America Reports Sixth Largest Weekly Inflow into US Stocks Since 2008, Driven by Institutions and Hedge Funds

    Bank of America data shows that last week the US stock market recorded its sixth largest weekly inflow since 2008, marking the largest scale since mid-July. BofA strategist Jill Carey Hall noted that this round of inflows was primarily driven by institutional investors and hedge fund clients, with net buying of US stocks for the second consecutive week, focusing mainly on individual stocks and equity ETFs. In terms of sectors, 8 out of the 11 sectors in the S&P 500 saw net inflows, with the technology sector leading the gains, while the communication services sector recorded its first inflow in five weeks. The industrial sector experienced the largest outflow, facing selling for the fifth consecutive week, with Hall stating that this sector is the most competitive and has the highest costs. In terms of stock preferences, clients favored large and mid-cap stocks while selling small-cap stocks. In contrast to professional institutions, private clients have been net sellers of stocks for the sixth consecutive week.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company