Robinhood posts record second-quarter revenue as trading subscriptions deposits accelerate growth

Robinhood turned in its strongest second quarter on record as higher trading activity, rising customer deposits and steady subscription growth helped lift revenue and earnings. The financial services company also narrowed its full-year 2026 outlook for adjusted operating expenses and share-based compensation, reflecting greater confidence in spending plans.

Total net revenue reached $1.31 billion for the quarter ended June 30, up 32% from a year earlier and 23% higher than the first quarter. Net income climbed 48% year over year to $573 million, while diluted earnings per share increased to $0.62 from $0.42 a year earlier and $0.38 in the previous quarter.

Part of that profit came from a one-time item. Robinhood recorded $129 million in gains, largely related to the deconsolidation of Robinhood Ventures Fund I, which came from diluting earnings per share.

“The business is firing on all cylinders,” said Shiv Verma, Chief Financial Officer of Robinhood. “We delivered record revenues and drove new highs across equity, option, and event contract volumes, as we continue to win market share. Our product velocity continues to deliver new products for customers and drive a more diversified business, with Robinhood Legend and the Credit Card business joining our growing roster of now thirteen different business lines that have reached $100 million-plus in annualized revenues.”

Robinhood diversification continues to drive higher revenue in Q2

Transaction revenue continued to power Robinhood’s growth, rising 44% to $776 million. Options trading remained the company’s biggest revenue source at $342 million, while equities revenue nearly doubled to $129 million. Event contracts were another standout, generating $156 million—more than ten times what they brought in a year ago. The only weak spot was cryptocurrency trading, where revenue fell 38% to $100 million.

Outside of trading, Robinhood’s business also expanded. Net interest revenue increased 9% to $389 million as customer assets continued to grow, although lower interest rates and softer securities lending activity tempered those gains. Other revenue climbed 54% to $143 million, boosted by Trump Account service revenue and continued growth in Robinhood Gold subscriptions.

Customers continued to bring money onto the platform at a rapid pace. Net deposits reached a record $21.7 billion during the quarter, helping total platform assets climb 32% to $369 billion. Funded customers increased to 28.4 million, investment accounts rose to 29.9 million and Robinhood Gold subscriptions reached a record 4.8 million.

The company also spent more to support its expansion. Operating expenses increased 33% to $734 million, reflecting higher marketing costs, restructuring charges and investments tied to Trump Accounts and Rothera. Even so, adjusted EBITDA climbed 35% to $741 million, lifting the adjusted EBITDA margin to 57%.

Looking ahead, Robinhood slightly lowered and narrowed its full-year expense outlook. The company now expects adjusted operating expenses and share-based compensation of between $2.675 billion and $2.775 billion, compared with its previous guidance of $2.7 billion to $2.825 billion.

“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner,” said Vlad Tenev, Chairman and CEO of Robinhood. “Broad ownership is essential to a free, stable, and prosperous society.”

The quarter also fit into a strategy that became more visible in later results. By the third quarter of 2025, Robinhood highlighted rapid growth in prediction markets through its Kalshi partnership, saying event contract volumes more than doubled while new business lines expanded recurring revenue. In early 2026, management described prediction markets as one of its fastest-growing products, though investors questioned whether users attracted by speculative contracts would adopt longer-term investing services despite the company’s cross-selling ambitions.

Featured image: Robinhood

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