Robinhood reported first-quarter earnings of 37 cents per share, beating the analyst estimate of 32 cents, according to data from Benzinga Pro. Revenue rose to $927 million, exceeding expectations and up from $618 million a year ago. CEO Vlad Tenev said the company accelerated product innovation this quarter, highlighting new offerings like Robinhood Strategies, Banking, and Cortex. Tenev said customer response was strong, as shown by record net deposits, increased Robinhood Gold subscriptions, higher options volume, and trading growth across all asset classes. Robinhood stock fell 0.53% after hours to $48.85 on Wednesday.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Robinhood reported first quarter earnings of 37 cents per share,
00:05beating the analyst's estimate of 32 cents, according to data from Benzinga Pro.
00:09Revenue rose to $927 million, exceeding expectations and up from $618 million a year ago.
00:16CEO Vlad Tenev said the company accelerated product innovation this quarter,
00:21highlighting new offerings like Robinhood Strategies, Baking, and Cortex.
00:25Tenev said customer response was strong, as shown by record net deposits,
00:29increased Robinhood gold subscriptions, higher options volume,
00:33and trading growth across all asset classes.
00:36Robinhood stock fell 0.53% after hours to $48.85 on Wednesday.
00:42For all things money, visit Benzinga.com slash GSTV.