MENLO PARK — Robinhood Markets reported first-quarter fiscal 2026 earnings on April 28, 2026, with diluted earnings per share (EPS) of $0.38 and revenue totaling $1.07 billion. The company provided guidance for the second quarter, projecting approximately $1.23 billion in revenue and $0.45 EPS.

First-quarter revenue represented a 15% year-over-year increase, while diluted EPS increased by 3% compared to the same quarter in the previous year. Robinhood processed 818 million options contracts during the quarter, exceeding the analyst estimate of 671 million. CEO Vlad Tenev stated, "Record levels were seen in Prediction Markets, Futures, Index Options, Shorting, and Margin." Tenev also noted that Robinhood Banking had expanded fivefold since the last earnings report.

Cryptocurrency revenue for the first quarter of fiscal 2026 decreased by 47%. In contrast, Robinhood Gold subscription revenue increased by 32% to $50 million, and other transaction revenue rose by 320% to $147 million.

CFO Shiv Verma indicated that equity and trading volumes in April were on track to be the highest of the year. Verma added that prediction market volumes in April were expected to reach approximately $3 billion. He also projected that revenue generated from Trump Accounts would exceed their associated costs.

BTIG analyst Andrew Harte initiated coverage of Robinhood Markets with a "Buy" rating. Harte estimated that the company's assets would achieve annual growth exceeding 20% over the next decade. He identified four key growth drivers: maturing user base demographics, increased user engagement, healthy new customer acquisition rates, and product and international expansion. Harte cited the introduction of Trump Accounts, prediction markets, and the potential removal of pattern day trading restrictions as additional growth opportunities.

Argus analyst Stephen Biggar raised his price target for Robinhood from $90 to $110, maintaining a "Buy" rating. Biggar increased his EPS estimates due to anticipated lower headcount costs following a 10% workforce reduction. The company is investing $100 million in building infrastructure for Trump Accounts and is expanding into agentic AI to allow users to have AI manage banking and trading activities. Robinhood also received regulatory approval to operate as an IPO underwriter.

Robinhood's stock increased by slightly over 20% in the 12 months prior to June 30, 2026, aligning with the S&P 500, which also rose by 20% during that period. However, the stock decreased by nearly 40% from mid-January to early February 2026. Robinhood holds $19.27 billion in cash and $13.61 billion in debt, with a market capitalization of $87.52 billion. The company was founded in 2013 and is headquartered in Menlo Park, California.