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Charles Schwab Reports Record Third-Quarter Revenue of $7.17 Billion

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SCHW$94.16 −2.73%

Charles Schwab Corp (SCHW) reported record net revenues of $7.17 billion for the third quarter of 2026, marking a 17% increase compared to the same period last year. Net income reached $2.91 billion, delivering $1.62 in GAAP diluted earnings per share. On an adjusted basis, excluding $151 million in pre-tax transaction costs, diluted earnings per share came in at $1.69.

The growth was supported by strong client activity and asset gathering. The firm recorded $190.4 billion in core net new assets during the quarter, up 38% year-over-year, while total client assets reached $13.33 trillion. Trading volumes increased as daily average trades rose 44% to 10.7 million. Schwab also added 1.2 million new brokerage accounts, bringing its total account base to 48.6 million.

Moving forward, the brokerage giant is continuing to expand its digital and lending offerings. Recent initiatives include launching Single Stock Futures on thinkorswim, expanding crypto features, introducing an artificial intelligence assistant called Charley AI for retail users, and partnering with Anthropic to provide AI tools to registered investment advisors. Shares of the company fell 2.73% to $94.16 following the release.

Key points

  • Third-quarter net revenues increased 17% year-over-year to a record $7.17 billion.
  • Adjusted diluted earnings per share reached $1.69, while GAAP diluted earnings per share was $1.62.
  • Core net new assets reached $190.4 billion for the quarter, bringing total client assets to $13.33 trillion.
  • Daily average trades rose 44% year-over-year to 10.7 million amid 1.2 million new account openings.
  • The company introduced new digital tools including Charley AI for retail clients and a partnership with Anthropic.

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Questions and answers

What were Charles Schwab's third-quarter 2026 earnings?

Charles Schwab reported third-quarter 2026 net income of $2.91 billion, resulting in GAAP diluted EPS of $1.62. Adjusted diluted EPS reached $1.69 after excluding $151 million in pre-tax transaction expenses.

How much revenue did Charles Schwab generate in Q3 2026?

Net revenues reached a record $7.17 billion for the third quarter of 2026, representing a 17% increase compared to the third quarter of 2025.

What are Charles Schwab's total client assets?

Total client assets stood at $13.33 trillion at the end of the third quarter of 2026, rising 15% year-over-year behind $190.4 billion in core net new assets.