• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Revolut’s 2022 Financial Rollercoaster Sees Record Revenue, But Net Profit Takes a Dive

TechBooky by TechBooky
December 24, 2023
in Uncategorised
Share on FacebookShare on Twitter

UK based fintech Revolut disclosed in its delayed annual accounts that its revenue marked an impressive 45% surge, reaching a record £923 million ($1.1 billion) in 2022. However, this financial success was tempered by a notable downturn in net profit, plummeting to £6 million from the previous year’s £26 million.

Despite the profit dip, Revolut experienced robust customer growth, boasting 26.2 million customers, a substantial increase of nearly 10 million from 2021. The company attributed this growth to intensified efforts in new product launches and global expansion, which also led to a doubling of its workforce.

In the annual report, CEO Nikolay Storonsky reiterated the company’s unwavering commitment to its ongoing UK banking license application. Revolut, once valued at approximately $33 billion in 2021 and crowned the UK’s most valuable start-up, initiated the application process in early 2021 but continues to await approval.

Acknowledging the delay, the company, in September, secured permission to defer filing its annual accounts for the second consecutive year, indicating a complex financial landscape for the fintech powerhouse.

Related Posts:

  • Block-Square-Jack-Dorsey-1
    Block Q1 2025 Revenue Misses Amid Spending Slowdown
  • monzo
    British Digital Bank Monzo Reports First Full Year…
  • Alphabet's Q3 Earnings: Revival in Advertising and…
  • Q2 Earnings: Charging Network Operator EVgo Earnings…
  • solar celebration
    Block's Remarkable Q3 Earnings Report Sparks Investor Frenzy
  • Instacart's Strong Nasdaq Debut Sees 12% Stock Surge…
  • Redwire Reports Strong Q2 Results with Reduced…
  • Sony Q1 Profit Dip, PlayStation Growth, And Market Insights

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

TechBooky

TechBooky

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • NCC Requires Telecoms to Compensate for 24-Hour+ Outages May 26, 2025
    • Vietnam Will Soon block Telegram, App Owners are Surprised May 24, 2025
    • Widespread Downtime Reported By X Users May 24, 2025
    • MongoDB Enters Africa Through Nigeria Targeting $100B Digital Market May 24, 2025
    • Meta Quest’s Headgear Will Soon Support 3D Instagram Images May 24, 2025
    • Mozilla To Shut Down Pocket To Concentrate On Firefox May 24, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok