Robinhood Markets (HOOD) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Robinhood published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Robinhood reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS (non-GAAP), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue here is the line Robinhood calls total net revenues. Net interest revenues are reported net of interest expense, including securities lending interest expense.
• Adjusted Net Income and Adjusted EPS are non-GAAP measures Robinhood introduced in Q3 2026. The year-ago Adjusted EPS of $0.62 is Robinhood's own figure for Q3 2025 on the new basis.
• Net income and EPS here are attributable to Robinhood. Q3 2026 net income including non-controlling interests was $476 million.

Source: Robinhood Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Robinhood splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Robinhood's Transaction-based revenues revenue was $867 million in Q3 2026, up 19% from $730 million in Q3 2025, 61% of total revenue.
• Robinhood's Net interest revenues revenue was $415 million in Q3 2026, down 9% from $456 million in Q3 2025, 29% of total revenue.
• Robinhood's Other revenues revenue was $142 million in Q3 2026, up 61% from $88.0 million in Q3 2025, 10% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Robinhood gives no revenue or earnings outlook. Its release gives one expense outlook, for Adjusted Operating Expenses and SBC.

In its Q3 2026 release, Robinhood said:

“Our prior outlook for 2026 Adjusted Operating Expenses and SBC provided at Q2 2026 Earnings (July 29, 2026) was $2.675 to $2.775 billion.”

“As we look ahead to the rest of the year, we are lowering the top end of our prior outlook by $25 million to a range of $2.675 to $2.75 billion to reflect ongoing efficiency gains across our business.”

Source: Robinhood Q3 2026 release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HOOD forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total net revenues and GAAP diluted EPS, each as first reported in that quarter's release. Adjusted EPS is left out because Robinhood introduced it in Q3 2026.

We do not hold a confirmed date for Robinhood's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Robinhood reports total net revenues in three lines. In Q3 2026 transaction-based revenues were $867 million of the $1,424 million total, net interest revenues $415 million and other revenues $142 million. Transaction-based revenues were 61% of total net revenues, against 57% a year earlier. (Robinhood Q3 2026 release, Oct 27, 2026; Robinhood Form 10-Q, Q3 2026, Oct 28, 2026)

Options were the largest transaction line at $399 million, followed by event contracts at $173 million, equities at $121 million and cryptocurrencies at $120 million. Event contracts revenue was $27 million a year earlier; Robinhood put the rise down to growth in prediction markets, predominantly sports-related event contracts. Cryptocurrencies revenue fell from $268 million on a 37% decrease in the number of users placing cryptocurrency trades, a 13% decrease in average notional volume per trader and lower rebate rates from crypto market makers. (Robinhood Form 10-Q, Q3 2026, Oct 28, 2026)

Robinhood's net interest revenues fell from $456 million to $415 million. Margin interest rose to $244 million from $153 million and credit card interest, net to $50 million from $17 million, while securities lending, net went from $87 million to a net expense of $19 million as the hard-to-borrow market weakened, and Cash Sweep revenue fell to $45 million from $64 million on lower short-term rates. (Robinhood Form 10-Q, Q3 2026, Oct 28, 2026)

Other revenues rose 61% to $142 million, which Robinhood attributed to service revenues from Trump Accounts and Robinhood Gold subscription revenues. Gold subscription revenues were $62 million, against $47 million a year earlier. (Robinhood Q3 2026 release, Oct 27, 2026; Robinhood Form 10-Q, Q3 2026, Oct 28, 2026)

Robinhood earns most of its transaction-based revenue by routing customer orders to market makers and other liquidity providers, which pay for order flow on equities and options and pay transaction rebates on crypto. One market maker, Citadel Securities, accounted for 17% of total net revenues in Q3 2026, against 13% a year earlier. For full-year 2025 the figure was 13%, and crypto market maker Wintermute Trading accounted for another 6%. (Robinhood Form 10-Q, Q3 2026, Oct 28, 2026; Robinhood Form 10-K, 2025, Feb 18, 2026)

Robinhood's GAAP diluted EPS fell to $0.51 in Q3 2026 from $0.61, and net income fell 14% to $476 million. Net income included $67 million, or $0.07 of diluted EPS, of unrealized losses primarily related to the mark-to-market of Robinhood Ventures Fund I. Total operating expenses rose 16% to $739 million, and the provision for credit losses within them rose to $71 million from $26 million as the credit card loan book grew. (Robinhood Q3 2026 release, Oct 27, 2026)

Robinhood introduced Adjusted EPS this quarter: $0.60, against $0.62 on the same basis a year earlier. Adjusted Net Income of $550 million adds back the $67 million of investment losses, $9 million of amortization of intangible assets and SBC tied to the CFO transition and restructuring, net of a $4 million tax impact. (Robinhood Q3 2026 release, Oct 27, 2026)

The tax rate also rose. Robinhood's effective tax rate was 23.8% in Q3 2026, mainly because of state income taxes, against 12.3% a year earlier, when excess tax benefits from share-based compensation lowered it. Diluted weighted-average shares were 911 million, against 918 million, and Robinhood repurchased $25 million of Class A common stock in the quarter. (Robinhood Form 10-Q, Q3 2026, Oct 28, 2026; Robinhood Q3 2026 release, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Robinhood does not give a revenue or EPS outlook. Its release gives one expense figure, Adjusted Operating Expenses and SBC for 2026, now $2.675 to $2.75 billion, narrowed from the $2.675 to $2.775 billion given on July 29, 2026. That figure leaves out the provision for credit losses, costs of pending acquisitions and significant regulatory matters. (Robinhood Q3 2026 release, Oct 27, 2026)

For the current quarter, Robinhood said October Net Deposits had topped $13 billion month-to-date, including $6 billion from the Dell family's contribution to Trump Accounts. (Robinhood Q3 2026 release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Robinhood, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Robinhood's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HOOD is on is HOOD a buy or a sell?, what analysts expect next is on the HOOD forecast, and what the company does is on the Robinhood Markets (HOOD) stock page.

Every number on this page can be traced to a document Robinhood published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.