Revolut doubles profits to $1.3B on user growth, crypto trading boom
Revolut doubles profits to 1 billion pounds in 2024, driven by crypto trading growth, 15 million new users, and a long-awaited UK banking license.
Fintech giant Revolut has reported a record-breaking year, doubling its pre-tax profits to 1 billion British pounds ($1.3 billion) in 2024, driven by rapid customer growth and a resurgence in cryptocurrency trading.
According to its annual report published on Thursday, April 24, Revolut’s profits soared from 438 million pounds in 2023, while revenues jumped to 3.1 billion pounds from 1.8 billion pounds.
A key contributor to Revolut’s strong performance was its wealth division, which includes stock and digital asset trading. The segment generated 506 million pounds in revenue — nearly four times higher than in 2023 — as crypto trading activity rebounded.
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