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Robinhood swings to profit from year-ago loss
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Robinhood swings to profit from year-ago loss
May 8, 2024 1:23 PM

May 8 (Reuters) - Robinhood Markets ( HOOD ) reported a

profit in the first quarter compared with a loss last year,

helped by rate hikes that boosted the online brokerage's net

interest revenue.

Profit was $157 million or 18 cents per share for the three

months ended March 31, compared with a loss of $511 million or

57 cents per share a year ago, the company said on Wednesday.

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