---
schema_version: "secwatch.filing_event.v1"
accession: "0001783879-23-000173"
form_type: "8-K"
ticker: "HOOD"
cik: "0001783879"
company_name: "Robinhood Markets, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T14:21:54.606051+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Robinhood posts first GAAP net income of $25M in Q2 2023; revenue up 10% sequentially

## Summary
- GAAP net income $25M ($0.03 EPS) vs net loss of $511M in Q1; first profitable quarter as public company.
- Total net revenues $486M, up 10% sequentially; net interest revenue $234M (+13%), transaction-based revenues $193M (-7%).
- Adjusted EBITDA $151M (31% margin), up 31% sequentially; ARPU rose to $84 from $77.
- AUC reached $89B (+13% sequentially); net deposits $4.1B; MAU fell to 10.8M from 11.8M.
- Acquired X1 (no-fee credit card) in July; full-year GAAP op-ex outlook improved to $2.33-2.41B.

## SEC filing metadata
- accession: 0001783879-23-000173
- form_type: 8-K
- ticker: HOOD
- cik: 0001783879
- company_name: Robinhood Markets, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000173/0001783879-23-000173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000173/hood-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001783879-23-000173
- JSON: https://secwatch.observer/filing/0001783879-23-000173.json
- Plain text: https://secwatch.observer/filing/0001783879-23-000173.txt

## Key facts
- Earnings Releases
  Robinhood Markets, Inc. reported second quarter of 2023 results: revenue $486 million, net income $25 million, EPS $0.03. Guidance lowered.
  - Period: second quarter of 2023
  - Revenue: $486 million
  - Net income: $25 million
  - EPS: $0.03
  - Guidance: lowered
  - Result: reported results
  source text: Second Quarter Results: • Total net revenues increased 10% sequentially to $486 million, primarily due to seasonally higher proxy revenue and higher net interest revenues, partially offset by lower transaction-based revenues. • Transaction-based revenues decreased 7% sequentially to $193 million. ◦ Options decreased 5% to $127 million. ◦ Cryptocurrencies decreased 18% to $31 million. ◦ Equities decreased 7% to $25 million. • Net interest revenue increased 13% sequentially to $234 million, driven by growth in interest earning assets, higher short term interest rates, and increased securities lending activity . • Net income was $25 million , or earnings per share (EPS) of $0.03, compared with a net loss of $511 million, or EPS of -$0.57, in Q1 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000173/0001783879-23-000173-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.