Robinhood Markets 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.
While techs have mainly delivered on high earnings expectations, the focus is now on whether other sectors can match up.
No findings have been made in respect of the allegations and the legal claims are in the preliminary stages.