Robinhood Q1 Earnings Miss Estimates
Robinhood Q1 earnings missed estimates; subscriber growth and prediction-market fees lifted profit while weak crypto revenue may pressure shares.
KEY TAKEAWAYS
- Q1 revenue $1.1B and diluted EPS $0.38 missed Wall Street consensus.
- Net income rose 3.0% as prediction-market fees and Gold subscriptions boosted profit.
- Crypto transaction revenue fell 47.0% even as net deposits grew at a 22.0% annualized rate.
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Robinhood Markets reported results on 2026-04-28 after market close, with Q1 earnings falling short of Wall Street forecasts despite a 3% profit increase supported by higher fees from prediction-market trades and growth in its Gold subscription service.
Quarterly Results and Consensus Miss
The company said in a press release on 2026-04-28 that Q1 revenue was $1.07 billion, up 15% year-over-year, while diluted earnings per share rose 3% to $0.38. These results missed Wall Street consensus estimates of $1.139 billion in revenue and $0.39 to $0.40 in EPS. Net income for the quarter was $346 million, a 3% increase from a year earlier.
Customer Growth and Revenue Mix
The filing showed net deposits of $18 billion in the quarter, reflecting a 22% annualized growth rate. Robinhood Gold subscribers reached a record 4.3 million, up 36% year-over-year, driving subscription revenue to $50 million, a 32% increase. Other revenues, largely from subscriptions, rose 57% to $85 million.
Prediction-market activity hit a notional record of $8.8 billion in Q1, contributing to fee growth. In contrast, crypto transaction revenue declined 47% year-over-year to $134 million, reflecting a shift in the trading mix despite gains in fee and subscription income.
