Finance

Company has 18 million accounts managing $80 billion

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The logo of trading app Robinhood is displayed on a smartphone.

Olivier Douliery | AFP via Getty Images

Robinhood Markets filed for one of the most anticipated initial public offerings of the year on Thursday, revealing rapid growth resulting in 18 million retail clients and more than $80 billion in customer assets.

Unlike many recent IPOs, Robinhood was profitable last year, generating a net income of $7.45 million on net revenue of $959 million in 2020, versus a loss of $107 million on $278 million in 2019, according to Robinhood’s S-1 filing with the Securities and Exchange Commission.

However, the brokerage lost $1.4 billion in the first quarter of 2021 tied to emergency…



Source cnbc.com

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