Companies /Financial Services

Robinhood Markets Inc - Class A

NASDAQ: HOOD Capital Markets
$122.11
▼ $2.61 (−2.09%) today
Markets closed · 4:32pm ET

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

Market Reaction

% 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

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

Forward Guidance & Outlook

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.