Schwab Shines in Q3 with Record-Breaking Performance
The latest quarterly earnings report from Charles Schwab, one of the leading financial services companies in the US, has exceeded expectations. With a strong showing in the third quarter of 2026, Schwab has solidified its position as a market leader.
According to Rick Wurster, President and CEO of Schwab, the company's Through Clients' Eyes strategy has endured the test of time, fueling record performance and growth. This approach focuses on delivering a unique value proposition that positions Schwab at the center of clients' financial lives. Key highlights from the quarter include:
A significant jump in new brokerage accounts, with 1.2 million clients opening new accounts in Q3.
Core net new assets reached $190 billion in Q3, up 38% year-over-year, representing an annualized organic growth rate of nearly 6%. Bank lending also saw a 35% increase year-over-year to $72 billion.
Total net revenues hit a record high of $7.2 billion, with adjusted earnings per share rising by 29% over last year to $1.69.
Notably, Schwab's Through Clients' Eyes strategy has been successful in delighting clients, as evidenced by rising client promoter scores and Easy Scores. The company continues to earn industry recognition for its commitment to delivering exceptional service, ease of use, capabilities, and trust.
Schwab remains the trusted platform of choice for investors and registered investment advisors, boasting a market-leading position across various metrics, including total client assets, RIA custodial assets, and daily average trades. Clients interacted with Schwab a record 1.8 billion times in Q3, either digitally or through its branches.
The company's focus on innovation is also evident in its investments in artificial intelligence (AI). AI has become an essential tool for Schwab, enabling the creation of personalized experiences for clients while improving team productivity. The combination of people and technology has always been central to Schwab's approach, which has attracted more investors to the platform and amplified existing strengths.
As Schwab continues to innovate across its businesses, it remains committed to delivering exceptional service and value to its clients. With a diversified financial model driving durable earnings growth across market cycles, Schwab is well-positioned for continued success in the future."
