FILE PHOTO: Robinhood logo and representations of cryptocurrency are seen in this illustration taken December 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Retail trading platform Robinhood's first-quarter profit more than doubled and beat analysts' estimates on Wednesday, driven by a surge in trading volumes from clients looking to hedge their positions amid choppy markets.
The company's transaction-based revenue, or income generated from fees for facilitating trading in options, cryptocurrency and equities, jumped 77% in the quarter.
