Robinhood Reports Record Revenue of $1.31B, Crypto Earnings Decline 38%

Robinhood Markets reported a 32% increase in revenue to a record $1.31 billion for Q2 2026, despite a 38% decline in crypto transactions. Analysts cut their forecasts after the Q2 results.

Robinhood (HOOD) reported record second-quarter 2026 revenue of $1.31 billion, up 32% year over year and above Wall Street's roughly $1.28 billion estimate, with diluted earnings per share of $0.62 beating the $0.42 consensus.

Growth was broad-based: transaction-based revenue rose 44% year over year to $776 million, event contracts and prediction markets revenue jumped more than tenfold to $156 million, Robinhood Gold subscribers grew 39% to 4.8 million, and net deposits reached $21.7 billion, pushing total platform assets to $369 billion, up 32%.

The one weak spot was crypto: digital-asset trading revenue fell 38% year over year to $100 million from $160 million, the steepest decline of any segment and a sign that the crypto-trading surge of prior quarters is cooling.

Despite the beat, Goldman Sachs, Barclays and Jefferies all cut their Robinhood price targets, with Barclays trimming its target to $105 from $122 and citing a slowdown in new account growth during July. The mixed reaction shows analysts increasingly view Robinhood's established trading business, rather than crypto or prediction markets, as the segment that could carry growth into 2027.