Charles Schwab Q3 2026: Record Asset Flows Power Fifth Straight EPS Beat
As seen on the 24/7 Wall St. homepage on October 15, 2026.
Record core net new assets of $190.4 billion, up 38% year over year, pushed total client assets to $13.33 trillion and carried earnings past consensus for a fifth straight quarter. Revenue came in narrowly missing expectations, and management now expects full-year revenue at the low end of prior guidance.
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Charles Schwab posted adjusted earnings per share of $1.69 for the third quarter of 2026, beating expectations for the fifth consecutive quarter. That streak spans a period when interest rate volatility and competitive pressure in brokerage have kept many peers on defense.
Core net new assets hit a record $190.4 billion, and CEO Rick Wurster noted that clients opened 1.2 million new brokerage accounts during the quarter alone. The platform is still pulling in net new relationships at scale rather than simply growing alongside market appreciation.
Revenue of $7.17 billion came in fractionally below consensus, missing expectations. Management guided full-year revenue to the low end of its prior range, an acknowledgment that the top-line gap is not a one-quarter rounding issue.
The revenue mix showed real momentum, with net interest revenue growing 14% as trading revenue and bank deposit account fees also climbed. Operating income rose 25% year over year, so the company is pulling more profit from each dollar of revenue than it was a year ago.
Schwab also returned capital to shareholders, repurchasing 4.7 million shares and declaring a quarterly dividend of $0.32 per common share. Pledged Asset Line balances and Schwab Wealth Advisory net flows both grew sharply, pointing to deepening wallet share among existing clients.
Mentioned: SCHW