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Financial services company Robinhood Markets HOOD reported fourth-quarter financial results after the market close Tuesday.

Here are the key highlights.

What Happened: Robinhood reported fourth-quarter revenue of $471 million, which was up 24% year-over-year. The revenue beat a Street consensus estimate of $456.8 million, according to data from Benzinga Pro.

Robinhood reported earnings per share of 3 cents, which beat a Street consensus estimate of a loss of 1 cent per share.

The company said the revenue increase came from increased transaction-based revenues and higher net interest. Net interest revenue was up 41% year-over-year to $236 million. Transaction revenue was up 8% year-over-year to $200 million.

Robinhood said cryptocurrency revenue was $43 million, up 10% year-over-year in the fourth quarter. Crypto revenue was higher than equities revenue of $25 million, up 19% year-over-year. Options revenue of $121 million was down 2% year-over-year.

The company ended the fourth quarter with 23.4 million funded customers, a year-over-year increase of 420,000.

Assets under custody stood at $102.6 billion at the end of the fourth quarter, which was up 65% year-over-year. Net deposits were $4.6 billion, up 21% from the third quarter. The company ended the fourth quarter with 1.42 million gold subscribers, up 25% year-over-year. Monthly active users totaled 10.9 million in the fourth quarter, down 4% year-over-year.

The average revenue per user was $81 in the fourth quarter, up 23% year-over-year.

Robinhoods full fiscal 2023 revenue totaled $1.87 billion for Robinhood, a 37% year-over-year increase. The company posted a loss of 61 cents per share, which was an improvement over a loss of $1.17 per share in the prior year.

"2023 was a strong year as our product velocity continued to accelerate, our trading market share increased, and we started to expand globally," Robinhood CEO Vlad Tenev said.

Related Link: Trading Strategies For Robinhood Stock Before And After Q4 Earnings

What's Next: The company will provide more financial guidance and commentary on its fourth-quarter earnings call.

The company said it expects adjusted operating expenses and SBC to be in a range of $1.85 billion to $1.95 billion for fiscal 2024.Loading… Loading…

The company's growth areas include new products, features and international expansion.

"We're off to an even better start in 2024, as we've already brought in more Funded Customers and Net Deposits through the first half of Q1 than we did in all of Q4 2023," Tenev said.

Chief Financial Officer Jason Warnick highlighted Robinhoods full-year revenue and higher margins in fiscal 2023 and goals for 2024.

"In 2024, we aim to continue delivering profitable growth as we work to maximize earnings per share over time to drive long-term shareholder value, Warnick said.

HOOD Price Action: Robinhood shares are up 116% to $13.22 in after-hours trading Tuesday versus a 52-week trading range of $7.91 to $13.51.

Read Next: Robinhood Q3 Earnings: EPS Beat, Revenue Up 29%, MAUs Fall 16% And More

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Kelly Clarkson addresses weight loss medication speculation

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Kelly Clarkson addresses weight loss medication speculation

Kelly Clarkson has addressed speculation about her weight loss, saying she has not used Ozempic but “something else” which has helped her.

The singer and talk show host spoke about the issue with actress Whoopi Goldberg, who has also lost a lot of weight after having treatment, in an episode of The Kelly Clarkson Show.

Numerous Hollywood stars are rumoured to have used Ozempic to lose weight – but just a handful of celebrities have admitted it publicly.

Whoopi Goldberg attends the Bring Change to Mind benefit "Revels and Revelations 11," in support of teen mental health, at City Winery, Monday, Oct. 9, 2023, in New York. (Photo by Evan Agostini/Invision/AP)
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Whoopi Goldberg says she has lost “almost two people” in weight. Pic: Evan Agostini/Invision/AP 2023

The medication was originally designed for people with diabetes, suppressing the appetite and lengthening the amount of time food stays in the stomach, leading to weight loss.

On the show, Goldberg, 68, told Clarkson she had “lost almost two people” in weight by “doing that wonderful shot that works for folks that need some help”. She has previously spoken about using the medication Mounjaro, another diabetes drug approved for weight loss in the US.

Clarkson, 42, responded by sharing her own story: “My doctor chased me for like two years and I was like, ‘No, I’m afraid of it. I already have thyroid problems’,” she said. “Everybody thinks it Ozempic. It’s not.”

Instead, Clarkson said she had used “something else… that aids in helping break down the sugar – obviously my body doesn’t do it right”.

More on Kelly Clarkson

She weighed 203 pounds, or 14.5 stone, at her heaviest, she said, and decided to begin her weight loss journey after watching a performance of herself and not recognising who she was watching on screen.

“You see it, and you’re like, ‘well, she’s about to die of a heart attack’,” Clarkson said.

Read more:
Anti-obesity jabs could reduce risk of heart attacks and strokes
Ozempic to Wegovy – what are the weight loss injections?

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The American Idol star was also told she was pre-diabetic earlier this year.

In January, she told People, she had lost weight after listening to her doctor and was eating “a healthy mix”.

Ozempic has been banned as a treatment for obesity in the UK due to high demand for the drug causing a global shortage.

Stephen Fry was prescribed the drug in the US “years ago” and said earlier this year that side effects included vomiting up to five times a day.

Oprah Winfrey has also said she has taken weight loss drugs, though has declined to specify which one.

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Eurovision says some contestants did not respect ‘spirit of rules’ after controversial competition

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Eurovision says some contestants did not respect 'spirit of rules' after controversial competition

The organiser of the Eurovision Song Contest has said it “regrets” that some contestants did not respect the “spirit of the rules” when taking part in the competition in Sweden.

In a statement on Monday, the European Broadcasting Union (EBU) said it had spoken to a number of delegations during the event regarding what it referred to as “various issues that were brought to our attention”.

It comes after Ireland’s Bambie Thug said they had raised “multiple complaints” to the EBU in the build up to the grand finale in the city of Malmo on Saturday after accusing Israeli broadcaster, Kan, of a rule breach.

The Irish performer accused the Israeli broadcaster of “inciting violence” against them three times and added they were waiting for the EBU to respond.

Bambie – who finished sixth with their gothic song Doomsday Blue – had repeatedly criticised the involvement of Israel’s representative, Eden Golan, who came fifth in the competition, given the ongoing Israel-Hamas conflict.

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Bambie Thug: ‘My favourite non-binary won’

The EBU said this week its governing bodies will work with the heads of delegations to review the events that took place at this year’s Eurovision and “move forward in a positive way and to ensure the values of the event are respected by everyone”.

“Individual cases will be discussed by the event’s governing body, the Eurovision Song Contest Reference Group, made up of representatives from participating broadcasters, at its next meeting,” it said.

Nemo of Switzerland, who performed the song The Code, celebrates after winning the Grand Final of the Eurovision Song Contest in Malmo, Sweden, Sunday, May 12, 2024. (AP Photo/Martin Meissner)
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Nemo celebrates after winning the Eurovision Song Contest. Pic: AP

The 68th edition of the annual song contest was won by Nemo from Switzerland – the first non-binary performer to take the trophy.

But the week of the competition was marred by controversy, after the disqualification of The Netherlands’s contestant Joost Klein who was stopped from taking part over an “incident” where he was alleged to have made verbal threats to a female production worker.

Read more:
Eurovision as it happened
Five Eurovision moments you might have missed

A Pro-Palestinian demonstration ahead of the second semi-final at the Eurovision Song Contest in Malmo
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A Pro-Palestinian demonstration ahead of the second semi-final at the Eurovision Song Contest in Malmo. Pic: AP

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It was the first time in Eurovision history that an act has been disqualified after reaching the grand final.

Meanwhile, around 10,000-12,000 people, including Swedish climate activist Greta Thunberg, took to the streets of Malmo across the weekend to call for Israel to be excluded from the contest.

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How did Eurovision 2024 unfold?


Numerous contestants – including Lithuania, France and Portugal – also tentatively brought politics to the stage after performing in the final, with all of them commenting on the importance of peace.

Israel’s Ms Golan told Sky News after the contest she had ignored all the controversy and was “over the moon” about coming fifth in the competition.

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Sports

Future Power Rankings: College football’s top 25 offenses for 2024 and beyond

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Future Power Rankings: College football's top 25 offenses for 2024 and beyond

Spring practice is over and many of the key transfer portal decisions have been made, making it the perfect time to bring back Future Power Rankings — a personnel-based look at the next three seasons around college football.

After examining quarterbacks and defenses, the offenses are in the spotlight, and the landscape is always evolving. Last year’s FPR offense piece opened with a scene from Washington’s practice, noting standouts like quarterback Michael Penix Jr., wide receivers Rome Odunze and Jalen McMillan, and tackle Roger Rosengarten. All of them are gone, selected in the top 100 picks of last month’s NFL draft. Washington also has a new coach (Jedd Fisch) and an entirely new offensive depth chart. Given all the uncertainty, Washington barely made the top 25 offenses through the 2026 season.

There are changes elsewhere, even since the quarterback FPR list back in March. Georgia enhanced its future quarterback outlook with transfer Jaden Rashada, while Miami added to its offensive backfield with running back Damien Martinez. Colorado has reshaped its running back room with Ohio State’s Dallan Hayden and Miami (Ohio)’s Rashad Amos, while losing Dylan Edwards to Kansas State and Alton McCaskill to Arizona State.

Given all the roster fluctuation, the rankings lean more on coaching. Those who have overseen perennially elite offenses — USC’s Lincoln Riley, Ohio State’s Ryan Day, Ole Miss’ Lane Kiffin, Alabama’s Kalen DeBoer, FSU’s Mike Norvell, Tennessee’s Josh Heupel and Texas’ Steve Sarkisian — will continue to be represented here. Coaches taking new jobs — Fisch at Washington, Jeff Lebby at Mississippi State — also will gain consideration.

As always, the offense rankings will largely mirror the quarterback ones, although there are some key differences, especially for teams that have fortified areas such as the offensive line.

Let’s get started.

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