Companies /Financial Services
Robinhood Markets Inc - Class A
NASDAQ: HOOD Capital Markets
$98.87
▼ $5.12 (−4.92%) today
Markets closed · 9:12pm ET

Robinhood (HOOD) Q4 2025 Earnings

Reported Feb 10, 2026, 4:05pm ET · SEC source
$0.66
Beat +3.79%
EPS · est. $0.64
$1.3B
Miss −4.36%
Revenue · est. $1.3B
−0.1%
Trailing market
HOOD vs S&P since report
1 quarter
Consecutive EPS beats

How Did HOOD Stock React to Q4 2025 Earnings?

% change · around the report
−5%0+5%Feb 10Feb 11report 4:05pm ETearnings−0.0%−2.1%
−5%0+5%Feb 10Feb 11earnings−0.0%−2.1%
HOOD −2.1%S&P 500 −0.0%
−5%0+5%Feb 10Feb 11report 4:05pm ETearnings+0.1%−2.1%
−5%0+5%Feb 10Feb 11earnings+0.1%−2.1%
HOOD −2.1%NASDAQ +0.1%
−12%−6%0+6%Feb 9Feb 18report 4:05pm ETearnings−1.0%−6.0%
−12%−6%0+6%Feb 9Feb 18earnings−1.0%−6.0%
HOOD −6.0%S&P 500 −1.0%
−12%−6%0+6%Feb 9Feb 18report 4:05pm ETearnings−1.1%−6.0%
−12%−6%0+6%Feb 9Feb 18earnings−1.1%−6.0%
HOOD −6.0%NASDAQ −1.1%
−8.91%
Day of report
−8.79%
Next session
−2.98%
One week
−3.41%
30 days

S&P 500 over the same 30 days: −3.31%.

Did HOOD Beat Earnings? Q4 2025 Results

Yes. Robinhood reported Q4 2025 earnings of $0.66 a share on Feb 10, 2026, beating the $0.64 consensus estimate by 3.8%. Revenue was $1.3B against a $1.3B estimate.

Robinhood closed out a record-setting year on a mixed but ultimately strong note, posting Q4 2025 earnings of $0.66 per diluted share against a consensus estimate of $0.59, a 12.36% beat, even as a 38% decline in crypto transaction revenue to $221 million drew investor scrutiny. Total net revenues reached $1.28 billion for the quarter, up 27% year-over-year, capping a full-year record of $4.47 billion. The headline driver of the quarter's resilience was diversification: options revenue jumped 41% to $314 million, net interest revenues surged 39% to $411 million, and Prediction Markets event contracts contributed $147 million in an entirely new revenue line. Gold subscribers hit 4.2 million, up 58% year-over-year, while Total Platform Assets climbed 68% to $324 billion. Some analysts have flagged that the company's crypto exposure leaves limited margin for error, a concern management is addressing by guiding 2026 operating expenses to $2.60 billion to $2.73 billion as it accelerates international expansion and new product development, with January already showing <a href="https://247wallst.com/investing/2026/02/10/live-will-robinhood-rebound-after-announcing-q4-earnings-tonight/">encouraging early momentum</a> across net deposits and margin lending.

Key Takeaways
  • Record Prediction Markets trading with over 12 billion event contracts in 2025
  • Options revenue growth of 41% YoY driven by record 659 million contracts traded
  • Equity notional trading volumes up 68% YoY to record $710 billion
  • Net interest revenue growth of 39% driven by interest-earning asset growth and securities lending
  • Robinhood Gold Subscribers up 58% YoY to 4.2 million with 15%+ adoption rate
  • Net deposits of $68.1 billion for the full year, a 35% growth rate
  • Margin book more than doubled YoY to $16.8 billion

“Our vision hasn't changed: we are building the Financial SuperApp.”

Robinhood CEO, on the earnings call

What Was Robinhood's Outlook in Q4 2025?

Robinhood's 2026 expense plan is designed to accelerate product velocity, drive Net Deposit growth, and grow revenues. The outlook for 2026 Adjusted Operating Expenses and SBC is $2.6 billion to $2.725 billion, representing approximately 18% year-over-year growth at the midpoint relative to 2025. This includes growth investments in new or recently launched products, marketing, international expansion, and full-year costs related to the 2025 acquisitions of TradePMR and Bitstamp. The CFO noted that 2026 is off to a strong start, with January 2026 showing $4.5 billion in net deposits (17% annualized growth rate), margin book up 121% YoY to $18.4 billion, and record event contracts traded of 3.4 billion.

HOOD YoY Financials

Revenue$1.3B
Operating Income$650.0M
Net Income$605.0M

HOOD Revenue by Segment

Transaction-Based Revenues$776.0M+15.0%
Net Interest Revenues$411.0M+39.0%
Options Trading$314.0M+41.0%
Cryptocurrency Trading$221.0M−38.0%
Other Transaction Revenue (incl. Prediction Markets)$147.0M+300.0%
Other Revenues$96.0M+109.0%
Equities Trading$94.0M+54.0%
Robinhood Gold Subscriptions$50.0M+56.0%

Figures from SEC filings and company reports. Not investment advice.