Robinhood Markets reported second quarter 2026 results that exceeded Wall Street expectations, with record revenue and stronger-than-expected earnings.

However, shares the trading platform slipped about 3% post-earnings as investors focused on the impact of the one-time accounting benefit and a decline in cryptocurrency revenue.

The company reported diluted earnings per share of $0.62, up 48% year-over-year and above analyst estimates of $0.43 to $0.44.

Net revenue reached a record $1.31 billion, rising 32% from a year earlier and slightly ahead of expectations of around $1.28 billion to $1.29 billion. Adjusted EBITDA came in at $741 million, above forecasts of approximately $630 million.

Net income increased 48% year-over-year to $573 million, although results included a $129 million gain primarily related to the deconsolidation of Robinhood Ventures Fund I. The company noted that the gain contributed $0.14 per share to diluted EPS, meaning operating earnings excluding the benefit were approximately $0.48 per share.

Transaction-based revenues increased 44% year-over-year to $776 million, driven by higher activity across several trading categories. Event contracts revenue reached $156 million, more than ten times higher than the prior year, while options revenue rose 29% to $342 million and equities revenue increased 95% to $129 million.

Cryptocurrency revenue declined 38% year-over-year to $100 million amid weaker digital asset activity.

Net interest revenues rose 9% to $389 million, supported by growth in interest-earning assets, while other revenues increased 54% to $143 million, helped by Robinhood Gold subscription growth and service revenues related to Trump Accounts.

Robinhood highlighted continued customer growth during the quarter, with funded customers rising by 1.9 million year-over-year to 28.4 million. Investment accounts increased 9% to 29.9 million, while Robinhood Gold subscribers climbed 39% to 4.8 million. Total platform assets rose 32% year-over-year to $369 billion, supported by net deposits and higher equity valuations.

“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner,” Robinhood chairman and CEO Vlad Tenev wrote.

“Whether it’s the Robinhood Chain, Robinhood Ventures, or Trump Accounts, our product velocity is focused on one goal: making everyone an owner,” Robinhood chairman and CEO Vlad Tenev said in a statement.

Robinhood CFO Shiv Verma wrote that the company delivered record revenue and saw new highs across equity, options and event contract volumes.

“Our product velocity continues to deliver new products for customers and drive a more diversified business, with Robinhood Legend and the Credit Card business joining our growing roster of now thirteen different business lines that have reached $100 million-plus in annualized revenues,” Verma said.