Robinhood Markets reported total net revenues of $1.31 billion for the second quarter of 2026, up 32% year-over-year and a company record. Net income rose 48% to $573 million, while diluted earnings per share increased 48% to $0.62. The results were aided by $129 million in gains primarily related to the deconsolidation of Robinhood Ventures Fund I.
Transaction-based revenues rose 44% to $776 million. Growth was driven by event contracts revenue of $156 million, up more than tenfold, options revenue of $342 million, up 29%, and equities revenue of $129 million, up 95%. Cryptocurrencies revenue declined 38% to $100 million.
Net interest revenues increased 9% to $389 million. Other revenues rose 54% to $143 million, driven primarily by Trump Account service revenues and higher Robinhood Gold subscription revenues. Total operating expenses increased 33% to $734 million, reflecting marketing and growth investments, one-time restructuring charges tied to a reduction in force announced in June 2026, and expenses related to Trump Accounts and Rothera. Adjusted EBITDA rose 35% to $741 million.
Funded Customers grew 7% year-over-year to 28.4 million. Total Platform Assets increased 32% to $369 billion. Net Deposits reached a record $21.7 billion for the quarter, an annualized growth rate of 28% relative to total platform assets at the end of the first quarter of 2026. Trailing-twelve-month net deposits reached $75.7 billion.
Robinhood Gold Subscribers rose 39% to a record 4.8 million. Average revenue per user increased 24% to $187. The company repurchased $414 million of Class A common stock during the quarter, representing 4.4 million shares at an average price of approximately $94, including $290 million repurchased in connection with its June 2026 convertible notes offering.
Robinhood said active trader engagement reached new records across equity, option, and prediction market volumes during the quarter. Robinhood Legend surpassed $100 million in annualized revenues roughly 18 months after launch. Following the May launch of Agentic Trading, nearly 100,000 customers have opened accounts allowing them to trade equities, options, and crypto through AI-powered agents, with more than $100 million in assets under custody.
The company’s credit card business also crossed $100 million in annualized revenues. The Robinhood Gold Card surpassed 1 million customers and more than $17 billion in annualized purchase volume, while the Platinum Card began rolling out. Trump Accounts officially launched on July 4 and have already reached more than 7 million account sign-ups with nearly $1.5 billion deposited to date. Robinhood Banking reported more than $3 billion in deposits from more than 240,000 Funded Customers, and Robinhood Strategies grew to more than 300,000 Funded Customers with nearly $2 billion in assets under management.
Internationally, Robinhood surpassed 1 million International Funded Customers during the quarter and closed its acquisition of WonderFi, a Canadian digital asset company, marking its formal entry into the region. The company also hosted a London event unveiling the public mainnet launch of Robinhood Chain, a permissionless, AI-native Ethereum Layer 2 blockchain, along with new Stock Tokens available to eligible users in more than 120 countries via the Robinhood Wallet, and debuted Robinhood Earn, its first decentralized lending product. Robinhood Singapore received its capital markets services license from the Monetary Authority of Singapore on July 1, a step toward offering brokerage services in the country.
For its full-year 2026 outlook, Robinhood said it is lowering and tightening its adjusted operating expenses and share-based compensation guidance to a range of $2.675 billion to $2.775 billion, down from its prior range of $2.7 billion to $2.825 billion provided at first-quarter earnings. The company said the change reflects captured efficiencies partially used to fund costs related to its two newest businesses, Rothera and WonderFi.
KEY QUOTES:
“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner. Broad ownership is essential to a free, stable, and prosperous society.”
Vlad Tenev, Chairman and CEO, Robinhood
“The business is firing on all cylinders. 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.”
Shiv Verma, Chief Financial Officer, Robinhood
