Robinhood Markets (HOOD) — Q2 2026 Earnings Preview
Key Takeaways and Preview Table
| Focus Area | Q2 2026 Consensus | Q2 2025 Actual | YoY Change | Q1 2026 Actual | Sequential Trend | Key Watch Items / Commentary |
|---|---|---|---|---|---|---|
| Revenue ($M) | $1,235 | $989 | +25% | $1,067 | +16% | Expecting continued double-digit growth, but YoY comp is easier than Q3/Q4 2025. |
| EBITDA ($M) | $604 | $549 | +10% | $582 | +4% | Margin expansion is a focus; watch for impact of incremental Trump Accounts spend. |
| Net Income ($M) | $414 | $386 | +7% | $354 | +17% | Profitability remains strong; compare to Q2 2025’s high margin. |
| EPS (GAAP) | $0.42 | $0.42 | 0% | $0.38 | +11% | Flat YoY, but sequential improvement expected. |
| Net Deposits ($B) | $13.8 | $18.0 | Q1 2026 was strong; Q2 intra-quarter commentary suggests April/May robust. | |||
| Gold Subscribers (M) | 3.5 | 4.3 | Growth continues; attach rate for new customers at 40%. | |||
| Adjusted OpEx + SBC ($M) | $522 | $607 | Guidance raised to $2.7–2.825B for FY26 due to Trump Accounts. |
