Charles Schwab Profits Climb On New Assets, More Lending -- WSJ

By Hannah Erin Lang

Brokerage giant Charles Schwab posted a 23% jump in profits today, powered by a rush of new accounts and customer dollars moving on to the platform.

The company reported third-quarter earnings of $2.9 billion, or $1.62 a share. That topped analyst's estimates of $1.60 a share.

Trading revenue and net interest income - the difference between what the company earns on loans and securities, and what it pays out on deposits and other borrowing - also increased, as did revenue earned on bank deposit account fees.

Clients are also borrowing more: Bank loan balances were up 35% year-over-year. Pledged asset line balances, which allow customers to borrow against their investments, surged 59% from the same period last year.

For months, the country's largest banks and brokerages have benefited from a resilient economy and volatile markets that have boosted trading revenues. But rising interest rates are threatening to spoil the party for banks, including Schwab.

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October 15, 2026 08:28 ET (12:28 GMT)