Robinhood Announces Launch of 24 Hour Market
MENLO PARK, Calif., May 10, 2023 (GLOBE NEWSWIRE) — Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced financial results for the first quarter of 2023, which ended March 31, 2023.
First Quarter Results:
Total net revenues increased 16% sequentially to $441 million.Transaction-based revenues increased 11% sequentially to $207 million. Options increased 7% to $133 million.Cryptocurrencies decreased 1% to $38 million.Equities increased 29% to $27 million. Net interest revenue increased 25% sequentially to $208 million, driven by growth in interest earning assets, increased securities lending activity, and higher short-term interest rates.Net loss was $511 million, or earnings per share (EPS) of -$0.57, compared with net loss of $166 million, or EPS of -$0.19, in Q4 2022, a sequential decrease of $345 million or $0.38 per share. Q1 2023 EPS of -$0.57 inclu
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