The Charles Schwab Corporation reported strong financial performance for the first quarter of 2026, with total net revenues reaching $6.48 billion, a 16% increase from $5.60 billion in the same period last year. The company's net income also saw a significant rise, climbing 30% to $2.48 billion, compared to $1.91 billion in the first quarter of 2025. Diluted earnings per share increased by 38% to $1.37, up from $0.99 in the prior year. The growth in revenues was driven by higher net interest revenue, which rose 16% to $3.14 billion, and a 20% increase in trading revenue to $1.09 billion, reflecting heightened client engagement amid market volatility.
In terms of operational metrics, Schwab reported a 6% year-over-year increase in active brokerage accounts, totaling 39.1 million as of March 31, 2026. The company also opened 1.3 million new brokerage accounts during the quarter, a 10% increase from the previous year. Client assets reached $11.77 trillion, marking a 19% increase from $9.93 trillion a year earlier, although this figure represented a slight decline from year-end 2025. The company experienced net new client assets of $139.9 billion, a 6% increase compared to $132.4 billion in the first quarter of 2025.
Strategically, Schwab completed the acquisition of Forge Global Holdings, Inc. on March 2, 2026, for $636 million. This acquisition is expected to enhance Schwab's capabilities in private market investments, aligning with its goal to meet evolving client needs. Additionally, Schwab announced plans to roll out cryptocurrency trading services, starting with Bitcoin and Ethereum, which will be supported by its banking subsidiary, Charles Schwab Premier Bank.
The company’s total expenses, excluding interest, increased by 5% to $3.29 billion, primarily due to higher compensation and benefits expenses associated with headcount growth and annual merit increases. The consolidated Tier 1 Leverage Ratio stood at 8.9% at the end of the quarter, down from 9.3% at year-end 2025, reflecting capital returns and increased total assets. Looking ahead, Schwab remains focused on maximizing market valuation and stockholder returns, with management expressing confidence in the company's ability to navigate market conditions and capitalize on growth opportunities.
About SCHWAB CHARLES CORP
The Charles Schwab Corporation is a leading financial services firm providing wealth management, securities brokerage, banking, asset management, custody, and advisory services. Serving individual and institutional clients, it offers a broad range of investment products, digital platforms, and personalized solutions. Its core value lies in trusted, low-cost, client-centric services, leveraging scale, efficiency, and innovation to deliver accessible investing and financial planning across diverse markets.
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