The Charles Schwab Corporation (NYSE:SCHW) reported fourth-quarter results that met market expectations, but its shares fell about 3% as investors reacted cautiously to the broadly in-line performance, even as revenue hit a new record.
The group delivered adjusted earnings per share of $1.39 for the quarter, exactly matching analyst forecasts. Revenue came in at a record $6.34 billion, in line with consensus estimates and up 19% from the same period a year earlier.
Client asset growth remained strong. Total client assets rose 18% year on year to a record $11.90 trillion. Schwab attracted $163.9 billion in core net new assets during the fourth quarter, lifting the full-year total to $519.4 billion, equivalent to organic growth of 5.1%.
“Schwab delivered growth on all fronts in 2025,” said President and CEO Rick Wurster. “Total client accounts grew 6% year-over-year to 46.5 million. New and existing clients entrusted us with $519 billion in core net new assets – a 5.1% organic growth rate – bringing total client assets to a record $11.90 trillion.”
Profitability metrics also improved, with net interest margin expanding to 2.90%, up 57 basis points from the fourth quarter of 2024. Asset management and administration fees increased 15% year on year to $1.7 billion, while trading revenue climbed 22% compared with the same quarter last year.
Capital returns remained substantial. During the quarter, Schwab repurchased 29.2 million shares for $2.7 billion, taking total capital returned to shareholders in 2025 to $11.8 billion across all channels.