EL7.AI
StocksMedium•28 October 2026•
2 min read

Robinhood Posts Record Revenue of $1.424 Billion in Third Quarter

Key Facts

1Net interest revenue was $415 million, down 9% year over year in the third quarter of 2026.
2Operating expenses rose 16% year over year to $739 million in the third quarter of 2026.
3Platform assets increased 19% year over year to $396 billion.
4Net deposits since the start of October exceeded $13 billion through October 27, 2026.
5The stock fell about 8% in premarket trading on October 28, 2026.

Robinhood’s third-quarter revenue was $1.424 billion, up 12% year over year, according to the company’s correction to the figure in the headline of its results. By contrast, net interest revenue fell 9% to $415 million. The company said the decline mainly reflected lower securities lending activity and short-term interest rates. Growth in interest-earning assets offset part of the decline. Revenue growth therefore came as one interest-related source of income contracted.

Operating expenses rose 16% year over year to $739 million. The company attributed the increase to provisions for credit losses as its credit card portfolio grew. It also cited expenses related to Trump and Rothera accounts, alongside marketing and growth investments. At the same time, Robinhood lowered the high end of its annual outlook for adjusted operating expenses and stock-based compensation by $25 million. The expected range is now $2.675 billion to $2.75 billion, with the revision attributed to efficiency gains.

Platform assets increased 19% year over year to $396 billion. The company attributed the increase mainly to continued net deposits and higher equity valuations, partly offset by lower cryptocurrency valuations. Chief Financial Officer Shiv Verma said net deposits since the start of October had exceeded $13 billion through October 27. He described the company as entering the fourth quarter with strong momentum. HOOD closed at $94.56 on October 27, according to EL7 data.

But the stock fell about 8% in premarket trading on October 28, according to Reuters. The report linked the decline to pressure from the cryptocurrency market on platform activity and third-quarter earnings that came in below Wall Street expectations. Reuters said Bitcoin, the largest digital asset by market capitalization, had fallen nearly 28% over the previous three months. This comes as the company said lower cryptocurrency valuations partly offset the impact of net deposit growth and higher equity valuations on platform assets. Robinhood enters the fourth quarter with October deposits exceeding $13 billion through the date of its results announcement.

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