Robinhood reported a net loss of $511 million, or 57 cents a share, compared with $392 million, or 45 cents a share, in the same quarter last year. $HOOD moved higher after the trading app reported first-quarter results that were better than expected:
Shares of Robinhood Markets Inc. moved higher on Wednesday after the trading app reported first-quarter results that were better than expected — even as trading activity remained muted when compared to the prior year.
The trading app reported a net loss of $511 million, or 57 cents a share, compared with $392 million, or 45 cents a share, in the same quarter last year. Robinhood’s HOOD revenue rose to $441 million, compared with $299 million in the prior-year quarter.
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