Revolut Surges Past $1 Billion in Profits on User Growth and Crypto Boom

Fintech giant Revolut has delivered a record-breaking year, reporting a doubling of pre-tax profits to £1.3 billion in 2024. The company’s growth was driven by rapid user acquisition and the resurgence in cryptocurrency trading. Revolut’s annual report reveals that its revenue skyrocketed, reaching £3.1 billion from £1.8 billion in 2023. This surge can be attributed to a flourishing wealth division, responsible for stock and digital asset trading, which generated nearly £506 million in revenue, four times higher than the previous year. The growth of crypto trading played a crucial role, as activity rebounded during the period.