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Revolut announces record $545m profit for 2023

Revoult reveals it delivered record profits and revenue growth

Revolut announces record $545m profit for 2023
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Cameron Emanuel-Burns
2 July 2024
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The fintech’s revenue surged by 95% over the year, from $1.1 billion in 2022 to $2.2 billion in 2023. It also secured a record profit before tax of $545 million, with a net profit of $428 million, achieving a net profit margin of 19% and marking the company’s third profitable year in a row.


According to Revolut’s CEO Nik Storonsky, the firm’s “exceptional financial performance” was fuelled by its “diversified business model” and expanding customer base.


The company claims that revenue diversification continued to “drive sustainable growth” over the year, with “no single product stream or country accounting for more than 30% of total revenue in 2023”.

Revolut saw significant growth across its three core revenue streams: subscriptions increased by 53% to $303 million, foreign exchange and wealth services rose by 46% to $491 million, and cards and interchange revenue climbed by 59% to $605 million.

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