Robinhood Tops Estimates as Crypto Revenue More Than Triples
This article is for subscribers only.
Robinhood Markets Inc. posted its second straight quarterly profit Wednesday as higher interest rates and cryptocurrency trading fueled revenue growth.
Net income for the first quarter totaled $157 million, or 18 cents a share, beating the 6-cent average estimate of analysts surveyed by Bloomberg. That compares with a loss of $511 million, or 57 cents, a year earlier.