Shares of Robinhood Markets (HOOD) rose in inওtraday trading Thursda🦩y as the online brokerage posted record profits and sales on soaring cryptocurrency trading.

Robinhood reported first-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.18, three times analysts’ estimates compiled by Visible Alpha. Revenue jumped 40% year-over-year to $618 million, also more than forecasts.

The company said transaction-based revenue skyrocketed 59% to $329 million, “primarily driven by cryptocꦕurrencies revenue,” which soared 232% to $126 million.

Golden Gains

Record-setting prices for gold drove demand as well, asꦰ Robinhood’s gold subscribers increased 42% to a new high of 1.7 million.

Net deposits also set a record at $11.2 bi🍸llion. The company noted 🅺that it had “net positive transfers from every major incumbent brokerage firm.”

Funded cꦦustomers climbed 810,000 to 23.9 million, and average revenue per user𒐪 (ARPU) added 35% to $104.

Co-founder and 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Vlad Tenev gave a positive outlook for the current quarter, explaining that April was the highest month of the year for net deposits and gold subscriber growth. He also said that said that more than 1 million customers had joined the waitlist for Robinhood's new 澳洲幸运5官方开奖结果体彩网:gold credit card, which is for its premium "gold" subscribers and 🌄offers 3% cash back

One potential bump in the road is a 澳洲幸运5官方开奖结果体彩网:Se𒐪curities and🦹 Exchange Commission (SEC) investigation into the company’s cryptocurrency business 澳洲幸运5官方开奖结果体彩网:unveiled this week. Robinhood chief attorney Dan Gallagher argued that the company is not violating any laws, calling the SEC’s case “weak.”

Robinhood shares were up about 1% to $18.04 as of 10:08 a.m. ET Thursday. They have added more than 40% of their value this year.