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Get filing alertsSchwab reports record Q2 revenue of $7.1B, up 21% YoY, with EPS of $1.54 ($1.62 adjusted)
Filed July 21, 2026 · Period ending July 21, 2026 · ~1 min read
Key Changes
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high
Net income reached $2.8B (EPS $1.54), or $2.9B adjusted (EPS $1.62) excluding $170M transaction costs. Net revenues hit record $7.1B, up 21% YoY, driven by strong client engagement and diversified revenue streams.
Exhibit 99.1 view on EDGAR → -
high
Core net new assets totaled $119.8B, up 49% YoY, with June alone bringing record $62.7B (5.8% annualized organic growth). Total client assets reached $13.08T (+22% YoY) with 1.4M new brokerage accounts opened.
Exhibit 99.1 view on EDGAR → -
high
Net interest margin expanded 12 bps quarter-over-quarter to 3.00%. Client sweep cash balances grew $24.2B to $485.7B, while average interest-earning assets reached $445.0B (+5% YoY), supporting 19% net interest revenue growth to $3.4B.
Exhibit 99.1 view on EDGAR → -
high
Daily average trading volume hit record 11.9M trades (+57% YoY), driving trading revenue of $1.2B (+28% YoY). Margin loan balances surged 30% quarter-over-quarter to $165.1B, while bank loans grew 33% YoY to $67.0B.
Exhibit 99.1 view on EDGAR → -
medium
Redeemed $2.1B Series I Preferred Stock and issued $1.5B Series L Preferred Stock. Repurchased 11.2M common shares for $1.0B. Tier 1 Leverage ratios remained strong at 8.7% consolidated and 6.8% adjusted.
Exhibit 99.1 view on EDGAR →
Summary
Schwab delivered a standout second quarter with record revenue of $7.1 billion, up 21% year-over-year, and adjusted earnings per share of $1.62. The results reflect firing on all cylinders: core net new assets of $119.8 billion (up 49% YoY) drove total client assets to $13.08 trillion, while record trading volume of 11.9 million daily trades and a 30% quarter-over-quarter surge in margin balances to $165.1 billion underscore intense client engagement. Net interest margin expanded 12 basis points to 3.00% as sweep cash balances grew $24.2 billion to $485.7 billion, supporting 19% growth in net interest revenue.
For retail holders, the combination of robust organic growth (June's $62.7 billion in net new assets represents a 5.8% annualized rate), margin expansion, and strong capital ratios (8.7% Tier 1 Leverage) demonstrates Schwab's ability to capitalize on market conditions while maintaining financial strength. The firm returned $1.0 billion to shareholders through buybacks while optimizing its capital structure with preferred stock transactions. The breadth of the performance—across asset gathering, trading, interest income, and client account growth to 48.0 million—positions Schwab well as a diversified beneficiary of sustained client activity and market engagement.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 22, 2026 · How we verify