Robinhood Markets stock weighs record revenue against falling profit

Robinhood Markets reported record third-quarter revenue on October 27, 2026, but lower earnings and weaker crypto activity complicated the growth picture. In its third-quarter results, the company said total net revenue rose 12 percent year over year to 1.424 billion US dollars for the period ended September 30.

Transaction-based revenue increased 19 percent to 867 million US dollars. Options revenue rose 31 percent to 399 million US dollars, equities revenue gained 41 percent to 121 million US dollars and event-contract revenue reached 173 million US dollars, more than six times the year-earlier level. Those gains offset a 55 percent decline in cryptocurrency revenue to 120 million US dollars.

New products drive the revenue mix

Robinhood also reported 142 million US dollars of other revenue, up 61 percent year over year, driven mainly by Trump Account service revenue and higher Robinhood Gold subscription revenue. Gold subscribers reached a record 5.2 million, while funded customers rose 7 percent to 28.7 million and investment accounts increased 9 percent to 30.4 million.

Chief Financial Officer Shiv Verma said Robinhood entered the fourth quarter with strong momentum. He said October net deposits had topped 13 billion US dollars month to date, including 6 billion US dollars from the Dell family's contribution to Trump Accounts. The company also said Rothera exceeded 100 million US dollars in annualized revenue in its first full quarter of operation.

Profit falls despite record revenue

Net income fell 14 percent to 476 million US dollars and diluted earnings per share declined 16 percent to 0.51 US dollars. The company said net income included 67 million US dollars of unrealized losses, primarily tied to the mark-to-market of Robinhood Ventures Fund I. Adjusted net income fell 3 percent to 550 million US dollars, while adjusted earnings per share declined 3 percent to 0.60 US dollars. Adjusted EBITDA increased 9 percent to 808 million US dollars, although its margin eased to 57 percent from 58 percent.

Total operating expenses rose 16 percent to 739 million US dollars. Robinhood attributed the increase mainly to higher credit-loss provisions as its card loan book grows, spending linked to Trump Accounts and Rothera, and marketing and growth investments. Net interest revenue fell 9 percent to 415 million US dollars as lower securities-lending activity and short-term interest rates outweighed growth in interest-earning assets.

Expense ceiling moves lower

Management lowered the upper end of its 2026 adjusted operating expenses and share-based compensation outlook by 25 million US dollars. The new range is 2.675 billion to 2.75 billion US dollars, reflecting what the company described as continuing efficiency gains. The outlook excludes items such as credit-loss provisions, certain acquisition costs and potentially significant regulatory expenses, so reported operating expenses can differ materially from the adjusted range.

Robinhood Markets stock traded at 76.71 euros on Lang & Schwarz at 12:56 CET on Monday, November 2, 2026. Investors can follow the real-time quote of Robinhood Markets stock.

For investors, the quarter shows a broader revenue engine, with options, equities, event contracts and subscription products reducing reliance on crypto trading. At the same time, lower net income, softer net interest revenue and rising credit-related costs keep execution and expense control central to the investment case.

Market conditions remain relevant for transaction volumes, securities lending and customer assets; investors can review current S&P 500 market reports.

Robinhood's next quarterly report is expected to provide the next update on fourth-quarter trading activity, customer deposits, credit losses and progress against the revised expense outlook. More coverage is available in more news and analyses on Robinhood Markets stock.

Robinhood Markets company profile

• Company: Robinhood Markets, Inc.
• ISIN: US7707001027
• Ticker: HOOD
• Primary exchange: Nasdaq
• Lang & Schwarz quote: 76.71 euros on November 2, 2026 at 12:56 CET
• Third-quarter revenue: 1.424 billion US dollars
• Third-quarter net income: 476 million US dollars
• 2026 adjusted expense and SBC outlook: 2.675 billion to 2.75 billion US dollars