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shares Robin Hood Shares rose in after-hours trading Thursday afternoon after the retail brokerage reported stronger-than-expected first-quarter results.
Robinhood reported earnings of 18 cents per share on revenue of $618 million. Analysts polled by London Stock Exchange Group (LSEG) expected the company to earn just 6 cents a share on revenue of $549 million.
The company said both profit and revenue figures were records for the company. The stock rose more than 4% in after-hours trading.
Robinhood surged in popularity during the coronavirus pandemic in 2020 and 2021, but user activity and revenue since then have mirrored trends in the broader market. Stocks and cryptocurrencies rose in the first quarter, which likely helped the company’s results.
Robinhood’s stock price had risen nearly 40% this year ahead of Wednesday’s earnings report.
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