Shares in Robinhood Markets Inc. were down more than 8% in late trading today after the financial services company reported earnings and revenue below analyst expectations in its fiscal 2026 first quarter.

For the quarter that ended on March 31, Robinhood reported diluted adjusted earnings per share of 38 cents per share, up one cent from 37 cents per share in the same quarter of the previous year, on revenue of $1.07 billion, up 15% year-over-year. Both figures came in below the 41 cents per share and revenue of $1.17 billion expected by analysts.

Robinhood saw net income in the quarter grow 3% year-over-year to $346 million, while adjusted earnings before interest, taxes, depreciation and amortization climbed 14% to $534…