Revolut reports a significant profit increase in 2024 driven by global expansion and a crypto trading boom.
Revolut doubled its annual profit in 2024, driven by expansion in crypto trading and growth in its customer base. The company’s total revenue rose by 72%, underscoring its technological and operational efficiency.
Revolut’s Revenue Jumps 72% Amid Crypto Expansion
CEO Nik Storonsky highlighted a record year with Revolut adding nearly 15 million new users globally. Burgeoning customer engagement with its diverse services propelled this growth, particularly in crypto trading.
“2024 was a landmark year for Revolut. We not only accelerated our customer growth, welcoming nearly 15 million new users globally… But we’re just getting started.” – Nik Storonsky, CEO, Revolut
$1 Billion Profit Marks 133% Increase for Revolut
The annual report revealed a net profit rise of 133% to $1 billion. Analysts credit Revolut’s crypto exchange launch and global expansion as key contributors to this financial achievement.
Revolut’s Wealth division contributed significantly to its success, with a 298% revenue increase, primarily from crypto trading. This surge in activity reflects the company’s strategic focus on innovation and financial access.
Revolut’s Crypto Overhaul Leads to Record 2024 Growth
Historically, Revolut has experienced year-on-year revenue growth by expanding its services, notably in crypto markets. The 2024 profit jump is the largest yet, attributed mostly to revamped crypto offerings.
Expert analysis indicates that Revolut’s approach aligns with evolving market trends. Data suggests that its focus on global reach and crypto trading will continue to drive success, enhancing its fintech market leadership.
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