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How Robinhood Markets (HOOD) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/29/2026
Robinhood Markets, Inc. is an American financial services company based in Menlo Park, California. · Wikipedia
More about the company
It provides an electronic trading platform that facilitates trades of stocks, exchange-traded funds (ETFs), options, index options, futures contracts, event contracts on prediction markets, and cryptocurrency. It also offers cryptocurrency wallets, wealth management, credit cards and other banking services, some in partnership with banks insured by the FDIC, and operates a venture capital arm as well as an independent media subsidiary, Sherwood.News.
Key growth driver: Transaction-based Revenue — the fastest-growing revenue line: $776, +44% y/y. · by the Q2 2026 report
How does Robinhood Markets make money?
Robinhood Markets brought in $1.31 billion of revenue in Q2 2026, up 32% year over year. The largest source was Transaction-based Revenue: $776 million, or 59% of the total, followed by Net Interest Revenue ($389M, 30%); other lines add the remaining 11%. Net income for the quarter was $561 million, up 45% year over year.
Revenue by source, Q2 2026
- Transaction-based Revenue$776M · 59% · +44%
- Net Interest Revenue$389M · 30% · +9%
- Other Revenue$143M · 11% · +54%
Shares of $1.31B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is HOOD’s next earnings date?
Wednesday, November 4, 2026estimated
Robinhood Markets (HOOD) has not confirmed the date yet; Nov 4, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $0.52 (8 analysts), vs $0.61 in the same quarter last year.
What time does HOOD report? Usually after market close: the last 4 results releases reached the SEC at 4:05 pm, 4:05 pm, 4:05 pm, 4:05 pm ET.
Last report: Jul 29, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$1,308
+32%
Operating income
$574
+30%≈
Net income
$561
+45%
$0.62 diluted EPS
Verdict: a record, high-quality quarter — revenue up 32% to $1.31B on broad-based transaction strength (equities +95%, event contracts +10x) and net income up 45% to $561M, though roughly a quarter of the profit beat came from a one-time $129M RVI deconsolidation gain and rising provisions/restructuring costs partly offset the underlying operating leverage.
Buyback: $414M repurchased in Q2 (incl. $290M tied to convert offering); OCF $720M; cash & equivalents $5.4B; no dividend; 2026 Adjusted OpEx+SBC outlook tightened to $2.675–2.775B.
Source and notation
* marks non-cash / ≈ estimated. Source: Robinhood Markets press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
HOOD earnings history: past report dates
| Jul 29, 2026 Wed | 4:05 pmafter market close | Jun 30, 2026 | $1.3B+32% y/y | $0.62+48% y/y |
| Apr 28, 2026 Tue | 4:05 pmafter market close | Mar 31, 2026 | $1.1B+15% y/y | $0.38+3% y/y |
| Jan 30, 2026 Fri | 4:05 pmafter market close | Dec 31, 2025 | ≈$1.3B+27% y/y | ≈$0.65−35% y/y |
| Oct 31, 2025 Fri | 4:05 pmafter market close | Sep 30, 2025 | $1.3B+100% y/y | $0.61+259% y/y |
| Jul 30, 2025 Wed | 4:05 pmafter market close | Jun 30, 2025 | $989M+45% y/y | $0.42+100% y/y |
| Apr 30, 2025 Wed | 4:05 pmafter market close | Mar 31, 2025 | $927M+50% y/y | $0.37+106% y/y |
| Jan 31, 2025 Fri | 4:04 pmafter market close | Dec 31, 2024 | ≈$1.0B+115% y/y | ≈$1.00 |
| Oct 30, 2024 Wed | 4:05 pmafter market close | Sep 30, 2024 | $637M+36% y/y | $0.17 |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Robinhood Markets: 5-year financials
| 2025 | 4,473 | 1,883 |
| 2024 | 2,951 | 1,411 |
| 2023 | 1,865 | −541 |
| 2022 | 1,358 | −1,028 |
| 2021 | 1,815 | −3,687 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2026Per the 10-K: Class B carries 10 votes, Class C none; the founders hold more than 50% of votes with ~12% of equity; Class B converts automatically no later than August 2, 2036. sec.gov ↗
- Dec 2020The SEC fined Robinhood Financial $65M for misleading customer communications about payment for order flow and best-execution violations. sec.gov ↗
- Jan 2025Robinhood's broker-dealer subsidiaries paid the SEC $45M for a range of violations (Regulation SHO, SARs, recordkeeping of communications, books and records). sec.gov ↗
- Dec 2025Diluted share count rose about 4.6% over 2022→2025; SBC is 6.8% of revenue (XBRL 10-K). data.sec.gov ↗
Scoring: 2.0 −0.5 (criterion 7: founders hold >50% of votes via Class B (10 votes) with ~12% of equity; automatic conversion no later than Aug 2, 2036) = 1.5
- Share classes
- Class A (1 vote), Class B (10 votes, founders only), Class C (no vote); the founders hold >50% of votes, sunset on August 2, 2036 → −0.5.
- Dilution
- IPO in July 2021, so counted from 2022 — diluted share count 2022→2025 ≈+4.6%; SBC 6.8% of 2025 revenue (~47% in 2023 due to a one-time cancellation of the founders' grant) — measured against the threshold in the latest year, no deduction.
- Disclosure
- 10-Ks and 10-Qs filed on time, audited US GAAP financials; no deduction.
- Dividends
- No dividends and no dividend policy; buybacks of $0.6B in 2023 and 2025.
- Lawsuits & regulators
- SEC 2020 ($65M, customer communications on PFOF), SEC Jan 2025 ($45M, broker-dealer violations) and FINRA 2021 concern the broker's customers and are not deducted under criterion 10; the IPO suit is unresolved — no deduction.
- Related parties
- No material non-arm's-length transactions with the founders; no deduction.
How the score works · checked as of Sep 2026
Robinhood Markets (HOOD) earnings: FAQ
How does Robinhood Markets make money?
Robinhood Markets brought in $1.31 billion of revenue in Q2 2026, up 32% year over year. The largest source was Transaction-based Revenue: $776 million, or 59% of the total, followed by Net Interest Revenue ($389M, 30%); other lines add the remaining 11%. Net income for the quarter was $561 million, up 45% year over year.
When is HOOD's next earnings date?
Robinhood Markets (HOOD) has not confirmed the date yet; Nov 4, 2026 is an estimate based on its past reporting schedule.
What time does HOOD report earnings?
Robinhood Markets usually reports after market close: its latest results release was filed with the SEC at 4:05 pm ET on Jul 29, 2026.
When did HOOD last report earnings?
Robinhood Markets reported Q2 2026 results on Jul 29, 2026.
What is the EPS estimate for HOOD's next earnings?
The consensus EPS forecast is $0.52 (8 analysts), vs $0.61 in the same quarter last year.
Where can I find Robinhood Markets's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to HOOD's filings; this page breaks the latest report down in a Sankey chart.
What was HOOD's net income in Q2 2026?
Robinhood Markets reported net income of $561M for Q2 2026 (+45% year over year), under US GAAP.
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How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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