On Tuesday, trading platform Robinhood released its Q4 earnings. The publicly traded fintech beat analyst expectations, delivering its second-ever quarterly profit, with earnings per share of $0.03—higher than the analyst-predicted $0.01. Robinhood shares jumped following the news, justifying CEO and Co-Founder Vlad Tenev’s optimistic outlook. 

“When we look at all that’s in front of us, we’re excited by the opportunity to continue growing Robinhood significantly from here,” he said.

With nearly $5B in cash and cash equivalents, Robinhood has the runway to build out its offerings in a range of directions. In their earnings call, leaders said they were focused on meeting the needs of active traders. They’re looking to build a “pro trader web experience,” double down on its mobile UX, and introduce futures and index options. 

Robinhood is also looking abroad, launching brokerage in the UK and crypto in the EU, and gearing up to move into other markets as the opportunity arises.  

“We have tens of thousands of international customers so far,” said Tenev. “What we’re hearing from customers is that they want more of the full Robinhood product suite, so we’re working to build that for them. We’re also pursuing opportunities to expand into more jurisdictions.”

Remarkably, Robinhood has brought in more funded customers and net deposits in the first half of Q1 2024 than it did in Q4 2023. This suggests that other positive earnings reports are on their way. 

But it’s hard to tell how much this uptick stems from Robinhood savviness—poaching competitors’ brokerage customers through deposit matching, releasing popular product features, and more—rather than improved economic conditions. A rising tide lifting most boats.

Retail trading is beginning to resume, as is crypto-based activity. Whether Robinhood’s boom times are here to stay, or are just another stock craze redux, remains to be seen.