The Charles Schwab Corporation (NYSE:SCHW) delivered first-quarter results ahead of analyst expectations, supported by high levels of client engagement and record trading volumes.
The firm reported adjusted earnings per share of $1.43, beating the $1.39 consensus by $0.04. Revenue reached a record $6.48 billion, slightly above the $6.47 billion forecast and up 16% from $5.6 billion in the same period last year. During the quarter, Schwab brought in $140 billion in core net new assets and opened 1.3 million new brokerage accounts.
Shares rose 1.2% following the results. On a GAAP basis, earnings per share came in at $1.37, marking a 38% increase from $0.99 in the first quarter of 2025.
“Driven by robust client engagement across our wealth, trading, and lending solutions, total first quarter revenue increased 16% year-over-year to $6.5 billion,” said CFO Mike Verdeschi. The company said its diversified business model helped deliver strong performance despite an uncertain macroeconomic backdrop.
Average daily trading volume hit a record 9.9 million trades, up 34% year on year. Asset management and administration fees rose 15% to $1.8 billion, while trading revenue increased 20% compared with the prior-year quarter. Total client assets grew 19% to $11.77 trillion.
Net interest margin for the quarter stood at 2.88%. Client transactional sweep cash balances reached $461.5 billion at the end of March, up $7.8 billion from the previous quarter. Bank loan balances rose 29% year on year to $60.9 billion, while margin loan balances increased 13% since year-end 2025 to $126.7 billion.
Schwab returned $2.4 billion to shareholders during the quarter through the repurchase of 24.3 million shares and also raised its quarterly dividend by 19% to $0.32 per share.