Schwab reports record second-quarter revenue of $7.1bn as daily trades hit 11.9 million

Record $7.1 billion. That is what The Charles Schwab Corporation reported for second-quarter net revenues, up 21 percent from a year earlier, in an earnings release dated July 21. Net income was $2.8 billion, or $1.54 a share, up 43 percent from the second quarter of 2025. Adjusted earnings, which exclude $170 million of pre-tax transaction-related costs, were $1.62 a share, up 42 percent.

The activity behind the numbers set records of its own. Daily average trades reached 11.9 million, up 57 percent from a year earlier. Clients opened 1.4 million new brokerage accounts, bringing the total to 48.0 million, and brought in $119.8 billion of core net new assets, of which a record $62.7 billion arrived in June. Total client assets rose 22 percent to $13.08 trillion.

Lending grew alongside the trading. Bank loan balances rose 33 percent from a year earlier to $67.0 billion, and margin loan balances rose 30 percent from the prior quarter to $165.1 billion. Rick Wurster, president and chief executive, said investors opened 1.4 million new brokerage accounts and brought $120 billion in core net new assets to the firm during the quarter.

The company also said it launched Schwab Crypto, which gives retail clients direct access to Bitcoin and Ethereum trading.