![]() Net interest revenue increased 25% Q/Q to $208 Million, driven by growth in interest earnings assets, increased securities lending activity, and higher short-term interest rates. Q1 net revenue of $441 Million, topping the $426.8 Million consensus, rose from $380 Million in Q4 2022 and from $299 Million in Q1 2022. Excluding share-based compensation, Robinhood expects operating expenses of $1.420 Billion-$1.480 Billion, unchanged from its previous guidance. its previous guidance of $2.375 Billion-$2.515 Billion compares with Visible Alpha consensus of $2.45 Billion. In addition, the stock-trading app company trimmed its guidance for 2023 GAAP total operating expenses to $2.345 Billion-$2.485 Billion vs. Robinhood also showed growth in monthly users, which hit 11.8 million. The company, which launched in 2012, has been a darling of younger, less experienced stock traders, but it has been recently vying for a more experienced clientele.Robinhood (NASDAQ:HOOD) were on the march Thursday after the retail brokerage reported a revenue beat, with $441 million in the first quarter against analyst estimates of $425 million, according to Refinitiv. ![]() It launched a new web platform in November, and it also started letting users transfer stock from competing brokerages to Robinhood. The roll-out of free options trading is the latest in Robinhood's evolution as a company. Pricing Filter: "Robinhood’s proprietary Pricing Filter streamlines the options tables, removing potentially misleading or superfluous information and hides options with little volume or liquidity where you may receive an unfair fill.".Advanced Options Strategies: "Level 2 self-directed options strategies (buying calls and puts, selling covered calls and puts) as well as Level 3 self-directed options strategies such as fixed-risk spreads (credit spreads, iron condors), and other advanced trading strategies are available.".It's free: "No commission and no per contract fee upon buying or selling options, as well as no exercise or assignment fees.".Some of the highlights of the new offering, according to the company, include: Options allow investors to bet on the price of an asset in the future, or to hedge their bets elsewhere against an unexpected price swing. An option allows an investor to buy or sell an asset or security - say a stock or a currency - at a certain price at a specified date in the future. Options don't get the same attention on Main Street as stock trading, but they make up a huge market on Wall Street. “Today, we are doing it again, with commission-free options trading, rooted in the belief that sophisticated investment tools don’t need to be complex or reserved for the wealthy." "In 2015, by focusing on technology and automation, we challenged the finance industry with the launch of commission-free equity trading, paving the way for millions of Americans to participate in their own financial system,” said Baiju Bhatt, Robinhood's cofounder and co-CEO, in a press release on the news. ![]() Palo Alto-based Robinhood, a zero-commission stock broker, announced on Wednesday that it would start offering free options trading to its more than 3 million users. ![]() Account icon An icon in the shape of a person's head and shoulders.
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