Business

Charles Schwab Posts Record Profit on Client Growth, Trading Activity
By Reuters | 16 Apr, 2026

Brokerage Charles Schwab's quarterly revenue surged 16% to a record $6.48 billion and daily average trading volume jumped 34% to a record 9.9 million.

Brokerage Charles Schwab posted record first-quarter profit on Thursday, lifted by robust client growth and trading activity.

Markets navigated a tough landscape in the first three months of 2026, buffeted by renewed concerns around AI disruption and private credit.

Jitters intensified in March as the U.S.–Israeli war on Iran rattled investors, with concerns over oil supply disruptions reigniting stagflation fears.

Volatility tends to be a boon for trading desks as investors increasingly rejig their portfolios to hedge against risks.

Here are some details:

• Westlake, Texas-based Schwab's quarterly revenue surged 16% to a record $6.48 billion, underpinned by robust client engagement across its wealth, trading and lending offerings.

• Daily average trading volume jumped 34% to a record 9.9 million from a year earlier, while trading revenue surged 20% due to record engagement.

• "Clients continue to turn to us for more of their financial lives, helping wealth and banking solutions reach record levels in 1Q," CEO Rick Wurster said.

• Investors opened 1.3 million new brokerage accounts on the platform and brought $140 billion of net new assets to the firm during the first quarter.

• Schwab's net income was $2.48 billion, or $1.37 per share, in the three months ended March 31, compared with $1.91 billion, or 99 cents per share, a year earlier.

• Schwab provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shreya Biswas)