Robinhood Markets, Inc. · HOOD · FY2026 Q3 · Calendar Q4 2026

Robinhood posts record Q3 as products and deposits scale

Robinhood's Q3 analysis supports the case that resilient demand and product expansion can sustain growth, but the next phase depends on adoption, monetization and regulatory execution.

Reported After market closeNASDAQFinancial Services $74.76B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.60 Consensus $0.56
EPS surprise +7.5% Reported versus consensus
Reported revenue $1.42B Consensus $1.44B
Revenue surprise -1.0% Reported versus consensus

Market reaction

close-to-close (session unavailable)
Stock move +1.9% Event window
SPY move +0.6% Same window
Abnormal move +1.3% Stock minus SPY
Volume 1.5× Versus trailing sessions
Subsequent drift 0.0% Up to 20 sessions
HOODSPY benchmark

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Transcript intelligence

What changed

The current quarter added evidence of scale: record revenue, $16 billion of quarterly net deposits, 5 million Gold subscribers and 17 new product launches. The Robinhood Chain also reached top-five blockchain status by volume, while international expansion advanced in Dubai and Singapore.

Guidance delta

Management's guidance sentiment was maintained. The supplied analysis does not identify a revised numerical outlook.

Key takeaways

  • Record Q3 revenue reached $1.4 billion, with adjusted EBITDA of $808 million.
  • Net deposits were $16 billion in the quarter, and year-to-date deposits exceeded $68 billion.
  • Product velocity remained central, with Agentic Trading, perpetual futures and planned 24/7 equity trading among the highlighted offerings.

Management priorities

  • Broaden Robinhood Banking, including independent onboarding and peer-to-peer payments.
  • Scale the Robinhood Chain ecosystem and add more tokenized assets.
  • Expand internationally across Dubai, Singapore, Canada, the UK and the European Union.

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Earnings History

Estimate Beat Miss Match
HOOD EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 2 future estimate-only quarters. Q4 '23 estimate $0.01 Q4 '23 actual $0.03, beat Q1 '24 estimate $0.06 Q1 '24 actual $0.18, beat Q2 '24 estimate $0.15 Q2 '24 actual $0.21, beat Q3 '24 estimate $0.18 Q3 '24 actual $0.17, match Q2 '25 estimate $0.31 Q2 '25 actual $0.42, beat Q3 '25 estimate $0.54 Q3 '25 actual $0.61, beat Q4 '25 estimate $0.63 Q4 '25 actual $0.66, beat Q1 '26 estimate $0.39 Q1 '26 actual $0.38, match Q2 '26 estimate $0.44 Q2 '26 actual $0.62, beat Q3 '26 estimate $0.56 Q3 '26 actual $0.60, beat Q4 '26 estimate $0.59 Q1 '27 estimate $0.60
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Analyst Consensus ?

ConsensusBuy27 ratings
Bullish2074.1%
Neutral518.5%
Bearish27.4%

Analyst 52W Price Targets

$94.56Previous close
$5Low
$108.79Average
$171High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Needham Buy BuyMaintainOct 21, 2026
JP Morgan Neutral NeutralMaintainOct 20, 2026
Wells Fargo Equal Weight Equal WeightMaintainOct 14, 2026
Truist Securities Buy BuyMaintainOct 13, 2026
Morgan Stanley Overweight OverweightMaintainOct 9, 2026
Show 22 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $94.56. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoAnalyst unavailable$120$110.52 +26.9%Oct 14, 2026
Truist FinancialAnalyst unavailable$134$109.87 +41.7%Oct 13, 2026
Evercore ISIAnalyst unavailable$130$109.02 +37.5%Oct 12, 2026
Morgan StanleyMichael Cyprys$160$107.01 +69.2%Oct 9, 2026
BarclaysAnalyst unavailable$132$112 +39.6%Oct 7, 2026
See 159 more

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Company context

Snapshot as of publication

Robinhood Markets, Inc. operates a financial services platform available to users throughout the United States. This platform empowers individuals to engage in a wide array of investments, encompassing common stocks, exchange-traded funds (ETFs), options contracts, gold, and various cryptocurrencies. Beyond its core trading functionalities, the company dedicates efforts to providing educational and informational resources.…

Historical context

All HOOD earnings

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-10-28T04:05:18.502707+00:00
  2. FN2 earnings calendar · 2026-10-28T01:23:13.546025+00:00
  3. Polygon adjusted daily market bars · 2026-10-28T07:40:43.135726+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T07:40:43.132905+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.