SCHW-PD · The Charles Schwab Corporation

The Charles Schwab Corporation delivered record first quarter 2026 results, with net revenues rising 16% year-over-year to $6.5 billion, fueled by robust client engagement across wealth management, trading, and lending solutions. Net interest revenue increased 16% to $3.1 billion on a 2.88% net interest margin and 2% growth in average interest-earning assets to $437.7 billion. Asset management and administration fees grew 15% to $1.8 billion, supported by organic asset gathering, while trading revenue surged 20% amid record daily average trading volume of 9.9 million, up 34% YoY. President & CEO Rick Wurster highlighted $140 billion in core net new assets (excluding a $17.5 billion planned mutual fund clearing deconversion, totaling $157.5 billion) and 1.3 million new brokerage accounts, pushing active accounts to 39.1 million. Managed investing net flows rose 46% YoY, and bank loans expanded 29% to $60.9 billion. GAAP expenses rose 5% to $3.3 billion, with adjusted expenses (excluding $143 million acquisition/integration costs) also up 5%, yielding a GAAP pre-tax profit margin of 49.2%, up from 43.8% a year ago. CFO Mike Verdeschi noted the firm's strong capital position, reflected in 24.3 million shares repurchased for $2.4 billion and a 19% dividend increase to $0.32 per share. Balance sheet strength persisted with total assets at $493.3 billion and solid leverage ratios. The early March closure of the Forge Global acquisition and launch of Schwab Teen Investor Account underscore ongoing innovation and strategic expansion in a uncertain macroeconomic environment.