Schwab beat earnings expectations with an adjusted EPS of $1.69 against a $1.66 estimate and achieved a record $192.4B in total net new assets. Net income rose 23% year over year to $2.91B, while total client assets grew 15% to $13.33T. To expand its AI capabilities, the firm launched a digital assistant called Charley and partnered with Anthropic to offer Claude for Financial Advisors. The company also spent $0.5B to repurchase 4.7M shares.
Tuesday, October 20, 2026
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Charles Schwab Shares Fall 5.6% to Lowest Since June
Earnings5 days ago
The brokerage reported quarterly net revenue of $7.17B, which missed the $7.19B consensus estimate. This shortfall led to a 5.6% drop in Charles Schwab shares, pushing the price to its lowest level since June. Net interest revenue also trailed expectations at $3.48B, compared to the $3.52B analyst forecast, outweighing other positive results from the third quarter.
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