Key Highlights

  • Robinhood Markets, Inc. (NASDAQ:HOOD) reports third-quarter results after the close on Tuesday, October 27, 2026, with consensus earnings of USD 0.55 per share against USD 0.62 reported for the second quarter.
  • Second-quarter revenue was a record USD 1.31 billion, up 32%, and adjusted EBITDA was USD 741 million, a margin of 57%, in the release of Wednesday, July 29, 2026.
  • Net deposits were USD 21.7 billion in the second quarter, and total platform assets reached USD 369 billion, up 32% year on year, with 28.4 million funded customers.
  • Adjusted operating expenses and share-based compensation were guided lower and narrower for 2026 at USD 2.675 billion to USD 2.775 billion, which supports margins if revenue holds.

The Setup: A Lower Estimate After a Record Quarter

Robinhood Markets, Inc. (NASDAQ:HOOD), a retail brokerage and financial services platform, reports third-quarter results after the market closes on Tuesday, October 27, 2026, so the first trading reaction falls on Wednesday, October 28. Consensus earnings are USD 0.55 per share. In its release of Wednesday, July 29, 2026, second-quarter diluted earnings were USD 0.62, up 48%, including USD 0.14 of gains mainly from deconsolidating a ventures fund, which suggests underlying earnings near USD 0.48. That adjustment is simple arithmetic on two reported figures. Net income was USD 573 million. Gold subscribers rose to 4.8 million, up 39%. Results cannot be known in advance.

How Trading, Deposits and Crypto Set the Quarter

Robinhood (NASDAQ:HOOD) earns from transaction fees on equities, options and crypto, from net interest on customer cash and margin balances, and from Gold subscriptions. Activity in markets therefore sets revenue, while deposits set the asset base. The second-quarter record of USD 1.31 billion came with net deposits of USD 21.7 billion, an annualised growth rate of 28%, and 13 business lines above USD 100 million, according to the company presentation. A crypto slump was noted in the quarter, and crypto trading remains the most volatile revenue stream. A rate increase on Wednesday, September 16, 2026 supports interest earnings on cash balances but can dampen speculative trading appetite. Management lowered 2026 adjusted expenses and share-based compensation to USD 2.675 billion to USD 2.775 billion.

Risks and What to Watch

The bull case for Robinhood (NASDAQ:HOOD) is earnings above USD 0.55, net deposits at or above the USD 21.7 billion second-quarter level, further growth in Gold subscribers and platform assets, and a lower expense range; that combination would likely be read positively because the shares react strongly to engagement data. The bear case is lower options and crypto volumes, slower deposits or a cost range that is not trimmed again, which could prompt a sharp fall since the stock trades on growth expectations. Investors should watch funded customers, average revenue per user, net interest income and the expense range. Regulatory changes on retail trading and the Federal Reserve decision on Wednesday, October 28, 2026 add volatility.

Where Things Stand

The answer is that Robinhood (NASDAQ:HOOD) must show that second-quarter momentum in deposits and customers carried into the third quarter, with earnings near or above USD 0.55. The record revenue of USD 1.31 billion and a 57% adjusted EBITDA margin set a high base, and the trimmed expense outlook gives room to beat if trading held up. The next catalysts are the report after the close on Tuesday, October 27, 2026, trading on Wednesday, October 28, 2026 and the Federal Reserve decision the same day. Estimates are not guarantees, and this is not investment advice.