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Charles Schwab posted record Q2 results, with revenue rising 21% to $7.1 billion and adjusted EPS up 42% to $1.62. The company also added 1.4 million new brokerage accounts and generated $120 billion in core net new assets.
Client growth and trading activity were strong, with 11.9 million daily average trades and trading revenue up 28% to $1.2 billion. Schwab said clients are increasingly consolidating their wealth, lending and banking relationships with the firm.
Management raised its 2026 outlook, now expecting full-year revenue growth of 17.5% to 18.5% and organic growth of 5%. The company also highlighted expanding advice, lending, AI and crypto initiatives as future growth drivers.
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Charles Schwab (NYSE:SCHW) executives said the company delivered record second-quarter results as client asset gathering, trading activity, lending demand and wealth management flows all strengthened.
President and CEO Rick Wurster said Schwab is benefiting from a financial services landscape that is "increasingly driven by investing," with the company positioned at the "trusted center of the investing ecosystem." He pointed to Schwab's "true client size" strategy as a driver of growth across client acquisition, deeper relationships and diversified revenue.
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For the second quarter of 2026, Schwab reported $7.1 billion in total revenue and adjusted earnings per share of $1.62, up 42% from a year earlier. The company added 1.4 million new brokerage accounts and generated $120 billion in core net new assets, which Wurster said was up nearly 50% year over year.
Wurster said Schwab opened 2.7 million new brokerage accounts in the first half of the year and brought in $260 billion in core net new assets, representing nearly 20% year-over-year growth. He said the company remains confident in a long-term organic growth rate of 5% or higher.
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During the question-and-answer session, Jefferies analyst Dan Fannon asked about the sustainability of net new asset trends. Wurster said Schwab remains "bullish" on net new assets, citing strength across Advisor Services, Investor Services and workplace-related businesses. He said clients are increasingly consolidating their financial lives with Schwab, including through wealth, lending and banking products.
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