Robinhood Markets, Inc. (HOOD) Earnings
Robinhood Markets, Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $0.41. HOOD has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +15.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.39 | $0.38 | -1.4% | $1.1B | -6.4% |
| Nov 5, 2025 | $0.54 | $0.61 | +13.4% | $1.3B | +5.1% |
| Jul 30, 2025 | $0.31 | $0.42 | +36.9% | $989M | +8.1% |
| Apr 30, 2025 | $0.33 | $0.37 | +13.7% | $927M | +0.8% |
| Feb 12, 2025 | $0.42 | $0.54 | +29.1% | $1.0B | +7.2% |
| Feb 13, 2024 | $0.01 | $0.03 | +305.4% | $481M | +5.3% |
| Aug 2, 2023 | $0.01 | $0.03 | +309.8% | $491M | +3.6% |
| Feb 8, 2023 | $-0.13 | $-0.19 | -46.2% | $386M | -8.6% |
| Nov 2, 2022 | $-0.33 | $-0.20 | +39.4% | $367M | +1.2% |
| Aug 2, 2022 | $-0.36 | $-0.34 | +5.6% | $318M | +1.4% |
| Apr 28, 2022 | $-0.31 | $0.21 | +167.7% | $305M | -14.0% |
| Jan 27, 2022 | $-0.34 | $-0.49 | -44.1% | $369M | -2.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Highlighted historic milestone with Trump accounts, being broker and sole initial trustee, reaching over 5.5 million American children signed up and 60 million eligible. - Focus on three-part strategy: number one in active traders, number one in wallet share for next generation, number one global financial ecosystem. - In Q1, saw record levels across prediction markets, futures, index options, shorting, and margin. - Robinhood Social has strong engagement, rolled out to first 10,000 customers, people love verified profiles and trades, working on adding new features weekly. - Turbocharging with AI: leveraging AI for efficiency internally, giving customers access to AI power tools like Robinhood Cortex, and empowering customers to participate in economic value of AI companies via Robinhood Ventures.
Guidance
- Raising full year 2026 outlook for adjusted OpEx and SBC by $100 million due to $100 million investment in building Trump accounts. - Q2 off to good start in April, equities and options trading volumes on track to be highest month of the year and second highest in history, net deposits already approximately $5 billion a month, retirement assets crossed $30 billion. - Expecting exciting products in late May related to agentic capabilities in Robinhood Cortex, crypto event in early July in the UK, and annual hood summit for active traders in the fall.
Segment performance
Total net revenues grew 15% year over year to $1.1 billion. Net deposits were $18 billion, another quarter of 20% plus annualized net deposit growth. Gold subscribers had 36% year-over-year growth to a record 4.3 million, 16% attach rate relative to total customer base and 40% of new customers in Q1. Robinhood Banking grew 5x since last earnings, with over $2 billion in net deposits, over 125,000 funded customers, and 40% direct deposit rate. Gold credit cards surpassed 800,000 customers with annualized purchase volume of $15 billion, on track to surpass 1 million cards and $100 million ARR this year. International is picking up, approaching 1 million funded customers, plan to launch crypto in Canada mid-year, received in-principle approval from regulators in Singapore to offer brokerage services.
Risks & headwinds
- Actual results could differ materially from current expectations due to forward-looking statements. - Potential risk factors including regulatory developments that could cause differences. - Securities lending net was lower due to lower volatility and lower IPOs in the market.
Analyst Q&A
Q: Update on dividend tracker?
A: In works, on track for launch this year, aiming to pay dividends earlier. -
Q: Will Robinhood have IPO access to upcoming mega offerings?
A: Yes, durable trend, CEOs engaging directly, expecting more large allocations for retail. -
Q: Thoughts on customer growth, especially with Trump accounts?
A: Product side to make onboarding simpler, marketing activities having high ROI. -
Q: Health of customer base and resiliency?
A: Net deposits $18 billion in Q1 despite macro backdrop, diversified products, more active trader tools. -
Q: Evolution of prediction markets industry?
A: Expect consolidation, differentiation based on customer base and economics. -
Q: Pattern day trader elimination?
A: Fantastic, outdated rule, excited to go live with new logic. -
Q: SEC lending and take rate dynamics?
A: Customers opt in, margin book grows, securities lending net lower due to lower volatility, take rates output metric, healthy adoption. -
Q: Margin funding?
A: Moved cash onto balance sheet, funding margin book, free credit balances and sweeps take rate. -
Q: AI-powered financial advisors?
A: Making progress, working on reg BI compliant recommendations, stitching together digital self-serve solutions. -
Q: Crypto volumes and prices, trends, take rate?
A: Strategy on tokenization, crypto as technology infrastructure, active traders growing, institutional book gaining share. -
Q: Perpetual futures rollout and US offering?
A: Perpetuals overseas doing well, need rule changes in US. -
Q: AI and automation impact on hiring strategy?
A: Using AI for efficiency, shipping faster, everyone across firm adopting AI. -
Q: Trading behavior between active and less active traders?
A: Gold attach rate high, customers adopt gold then other products, deposits diversified. -
Q: Banking driving new customer growth?
A: Potential for more top of funnel with gold card and banking, right near top in card rollout. -
Q: Bitstamp cross-sell opportunities?
A: Fixing basic issues, low hanging fruit for institutional lending and market share growth. -
Q: International expansion strategy?
A: Organic and non-organic brokerage or crypto, tokenization for quick service, focusing on speed to market and ROI. -
Q: Trump accounts and public sector business?
A: Learning to be government subcontractor, potential for other states and countries to do similar things. -
Q: States' concerns on prediction markets?
A: Jurisdictional dispute, continue to defend position. -
Q: Robinhood Social updates?
A: Shipping on weekly basis, extending rollout, approaching general availability, getting creators on board.