May 10 (Reuters) - Robinhood Markets Inc reported a 47% rise in first-quarter revenue on Wednesday, as the U.S. Federal Reserve's rapid rate hikes boosted the online brokerage's interest income.

The Menlo Park, California-based company reported revenue of $441 million in the three months ended March 31, compared with $299 million a year earlier.

(Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli)