Why Robinhood Stock Jumped 13% Today

Shares of online brokerage Robinhood Markets (HOOD 13.01%) jumped as much as 17.4% in trading on Wednesday after the company reported fourth-quarter 2023 financial results. Shares closed the day up 13%.The big quarterRevenue jumped 24% to $471 million in the quarter due to a 41% jump in interest revenue to $236 million and an 8% jump in transaction revenue to $200 million. Net income was $30 million, or $0.03 per share, from a loss of $166 million, or $0.19 per share a year ago. Analysts were only expecting ...