Robinhood posts smaller loss as higher rates boost margin trading business

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kellyposted a smaller-than-expected quarterly loss on Wednesday as the brokerage's margin trading business benefited from rising interest rates, while increased volatility in the markets helped its equity and options segments.

Robinhood Gold is the company's subscription service, which gives investors access to premium features. Trading in options rose 10%, while that in equities was up 7% sequentially as investors repositioned their portfolios to take advantage of rising interest rates. Stripping off one-time items, Robinhood reported a loss of 20 cents a share, narrower than 31 cents estimated by analysts, according to data from Refinitiv IBES.

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