Schwab Q2 Earnings Report

Charles Schwab Corp. shares rose after second-quarter earnings exceeded expectations. The company showcased a robust performance attributed to record client assets and an increase in trading revenue.

Key Financials

• Adjusted earnings: $1.14 per share
• Total client assets: Increased 14% year-over-year to $10.76 trillion
• Revenue from client transactions: Up 23% to $952 million

CEO Rick Wurster noted that retail investors and independent investment advisors continue to consider Schwab a trusted partner, resulting in over 1 million new brokerage accounts opened.

Wurster, who became CEO at the beginning of the year, mentioned during an earnings call that Schwab is advancing its digital asset initiatives. The company plans to offer spot trading for Bitcoin and Ethereum, targeting significant growth in this area. Additionally, Schwab is exploring a stablecoin and engaging with major banks to form a consortium while evaluating its independent options.

This is not investment advice.