$33 billion fintech giant Revolut reports first-ever annual profit
Publishing timestamp: 2023-03-01 04:14:46
Summary
Revolut reported its first-ever annual profit in 2021, with revenues of 636.2 million ($767.1 million) and a pre-tax profit of 59.1 million. Revolut expects revenues to have grown more than 30% to 850 million in 2022. The company has 25 million users worldwide and a valuation of $33 billion. Crypto accounted for roughly a third of sales in 2021, but dropped to between 5% to 10% in 2022. Revolut is hoping to obtain its U.K. banking license soon.
Sentiment: POSITIVE
Tickers: WISE-GB,
Keywords: business news, technology, banks, markets, internet, wise plc, fintech,