Robinhood stock rose after announcing record earnings

Spencer Platt | Getty Images

Robinhood shares rose in extended trading Wednesday afternoon after the retail brokerage reported stronger-than-expected first-quarter results.

Robinhood reported net income of $157 million, or 18 cents per share, in the first quarter. This is a positive swing from the same period last year, when the company had a net loss of $511 million, or 57 cents per share.

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