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Robinhood’s Q1 Loss Plunges over 200% despite Growth in Revenue

Robinhood released data on its first quarter 2023 financial performance on Wednesday, reporting a 208% decrease in net loss, swallowing the 16% increase in total net revenue. The loss reached $511 million during the period, beating the $441 million quarterly revenue. During the last quarter of 2022, Robinhood’s total net revenue stood at $380 million with net loss at $166 million. Compared to Q1 2022, the revenue surged by 47% from $299 million. On the contrary, the net loss tumbled by 30% from... Read More

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Posted: May 10 2023, 22:28

Author Name: financemagnates

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