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How Robinhood Markets (HOOD) makes money
Robinhood Markets (HOOD) made $1.4B of revenue in the third quarter 2026 (Q3 2026), +19% from a year earlier. Transaction-based revenues brought in $867M (61%); Event contracts brought in $173M (12%); Other revenues brought in $142M (10%). Of every dollar of revenue, 43¢ was left as operating profit, 33¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Transaction-based revenues | $867M | 60.9% | — | +19% |
| Event contracts | $173M | 12.2% | — | +541% |
| Other revenues | $142M | 10.0% | — | +61% |
| ↳ Other | $73.0M | 5.1% | — | +115% |
| ↳ Gold subscription revenues | $62.0M | 4.4% | — | +32% |
| ↳ Proxy revenues | $7.0M | 0.5% | — | 0% |
| Equities | $121M | 8.5% | — | +41% |
| Cryptocurrencies | $120M | 8.4% | — | -55% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.4B | 100.0% |
| Operating profit | $617M | 43.4% |
| Income tax | $149M | 10.5% |
| Net earnings | $468M | 32.9% |
| Operating cash flow | $1.2B | 86.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.4B | +12% |
| Q2 2026 | $1.3B | +32% |
| Q1 2026 | $1.1B | +15% |
| Q4 2025 | $1.3B | +26% |
| Q3 2025 | $1.3B | +100% |
| Q2 2025 | $989M | +45% |
| Q1 2025 | $927M | +50% |
From Robinhood Markets' 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Robinhood Markets make money?
Robinhood Markets (HOOD) made $1.4B of revenue in the third quarter 2026 (Q3 2026), +19% from a year earlier. Transaction-based revenues brought in $867M (61%); Event contracts brought in $173M (12%); Other revenues brought in $142M (10%). Of every dollar of revenue, 43¢ was left as operating profit, 33¢ was left as net earnings.
What is Robinhood Markets' biggest business?
Transaction-based revenues: $867M in the third quarter 2026, 61% of revenue, +19% from a year earlier.
What is Robinhood Markets' profit margin?
Net earnings were $468M, 32.9% of revenue, in the third quarter 2026; the operating margin was 43.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.