Charles Schwab reported second-quarter adjusted earnings of $1.62 per share. Revenue reached a record $7.1 billion, exceeding Wall Street expectations.
Daily average trades jumped 57% year-over-year to a record 11.9 million. Market volatility drove the increase in client trading activity. The company added 1.4 million new brokerage accounts during the quarter. Core net new assets totaled $120 billion.
Total client assets rose 22% from the prior year to a record $13.08 trillion. Schwab raised its full-year 2026 revenue growth forecast to a range of 17.5% to 18.5%. The previous guidance range was 14% to 15%. The upgraded outlook caused the stock to reverse its pre-market decline.