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Robinhood Markets, Inc. (7KY.F)
- Yahoo Finance Video
Uber earnings, Fedspeak: What to Watch
Here are some of the key events to watch for on Wednesday, May 8th. First quarter earnings season continues, with several companies scheduled to release their financial results, including Uber (UBER), Airbnb (ABNB), and AMC Entertainment (AMC). Additionally, Federal Reserve officials, including Fed Vice Chair Philip Jefferson, Boston Fed President Susan Collins, and Fed Governor Lisa Cook, will provide insight into inflation and the path for interest rates. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
- Reuters
UPDATE 1-Robinhood swings to profit from year-ago loss
Robinhood Markets reported a profit in the first quarter on Wednesday compared with a loss last year, helped by strong trading volumes and rate hikes that boosted its net interest revenue. The company reported a profit of $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. Policy tightening by the Federal Reserve has allowed companies to increase earnings from their cash deposits and their portfolio of bond investments.
- Reuters
Robinhood swings to profit from year-ago loss
The company reported a profit of $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. Policy tightening by the Federal Reserve has allowed companies to increase earnings from their cash deposits and their portfolio of bond investments. Brokers like Robinhood, which offers traders the ability to borrow against their investments, can now charge higher interest rates on these loans.
