Robinhood Beats Q1 Revenue Estimates as Interest Income Surges

Benzinga 2023-05-11

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Robinhood Markets Inc has beaten Wall Street estimates for its first-quarter revenue. Despite a slump in its retail trading arm due to reduced customer engagement amid market volatility, Robinhood partially offset the decline with increased interest income. Losses per share were 57 cents versus the 61-cent loss expected. The company reported revenue of $441 million, beating analysts' average estimate of $424.53 million. Robinhood also announced plans to launch 24-hour trading for five days a week.

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