Filing Flows › Robinhood Markets (HOOD) › Q3 2025
Robinhood Markets (HOOD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Robinhood Markets (HOOD) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), +100% from a year earlier and +29% from the quarter before. Operating margin was 49.8%, net earnings $556M (43.6% of revenue).
Robinhood Markets, Q3 2025: revenue $1.3B (+100% year over year), operating margin 49.8%, net earnings $556M, operating cash flow −$1.6B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +29% | +100% |
| Operating profit | $634M | +43% | +314% |
| Net earnings | $556M | +44% | +271% |
| Operating cash flow | −$1.6B | -145% | — |
What changed
Revenue was $1.3B in Q3 2025, up 100% year over year and up 29% from the previous quarter. Transaction-based revenues was the largest line at 57% of revenue. Transaction-based revenues added $0.41B year over year (up 129%), 65% of the total change.
Operating profit was $0.63B, a 49.8% margin (up 25.7 points year over year). Of the extra revenue versus a year earlier, 76% reached operating profit, above the 24% margin then. Total costs grew 32% against revenue growth of 100%. The fastest-growing cost line was General & admin (+39%). Net earnings were $0.56B, up 271% year over year. The effective tax rate was 12.3%.
Operating cash flow was −$1.6B. Non-cash charges added back $0.02B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $2.2B.
Questions
What was Robinhood Markets' revenue in the third quarter 2025?
Robinhood Markets (HOOD) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), +100% from a year earlier and +29% from the quarter before.
Was Robinhood Markets profitable in the third quarter 2025?
Operating profit was $634M (49.8% of revenue) and net earnings $556M.
Source: Robinhood Markets 10-Q on SEC EDGAR.