Robinhood Shares Jump on Earnings Beat, Surge in Net New Deposits
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Robinhood Markets’ efforts to broaden its product lineup may be paying off as the company reported record first-quarter revenue and a surge in new assets. On Wednesday, the brokerage firm reported first-quarter earnings per share of 18 cents on record revenue of $618 million, beating Wall Street estimates. Analysts had expected the company to report earnings per share of six cents on revenue of $553 million.