Webull reports record Q2 earnings of $199M, up 51% year over year

Webull just turned in the kind of quarter that makes competitor CFOs stare at spreadsheets a little longer. The digital brokerage posted $198.8 million in revenue for Q2 2026, a 51% jump from the same period last year and comfortably its best quarter on record.

Operating profit hit $62.6 million, also a record. For a company that went public barely 15 months ago, that’s the kind of trajectory that turns skeptics into believers.

Beating the Street by a wide margin

Wall Street had penciled in somewhere between $175 million and $183 million in revenue for the quarter, with earnings per share estimates hovering around $0.03. Webull blew past the top end of that range by roughly $16 million.

The beat looks even more impressive when stacked against the company’s own recent history. In Q1 2026, Webull reported $159.9 million in revenue, which represented a 36% year-over-year increase and adjusted operating profit of $14.8 million. The sequential jump from Q1 to Q2, nearly $39 million in additional revenue and a massive leap in operating profit, suggests the growth is accelerating rather than plateauing.

The company, which trades on the Nasdaq under the ticker BULL, is scheduled to discuss the results in an earnings conference call on August 19, 2026, at 5:00 p.m. ET.

How Webull got here

Founded in 2016 by Anquan Wang, Webull built its reputation on a simple pitch: commission-free trading with professional-grade tools. The platform offers access to US stocks, ETFs, and options, wrapped in an interface that balances simplicity for newcomers with advanced charting capabilities that more experienced traders actually want to use.

The company caught its first major tailwind during the retail trading explosion of 2020 and 2021, when millions of new investors flooded into the market. Webull completed its public listing through a SPAC merger in April 2025.

Going from $14.8 million in adjusted operating profit in Q1 to $62.6 million in operating profit in Q2 isn’t just growth. It’s the kind of operating leverage that suggests the business model is hitting its stride, where incremental revenue drops to the bottom line rather than getting swallowed by customer acquisition costs or infrastructure spending.

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