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How Charles Schwab (SCHW) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/21/2026
Charles Schwab Corporation — The Charles Schwab Corporation is an American multinational financial services company. · Wikipedia
More about the company
It offers banking, commercial banking, investing, and related services including consulting, and wealth management advisory services to both retail and institutional clients. One of the largest banks in the United States by assets, as of December 31, 2024, it had $10.10 trillion in client assets, 36.5 million active brokerage accounts, 5.4 million workplace retirement plan participant accounts, and 2.0 million banking accounts. It also offers a donor advised fund for clients seeking to donate securities. It was founded in San Francisco, California, and is headquartered in Westlake, Texas. It has over 380 branches, primarily in financial centers in the United States and the United Kingdom.
Key growth driver: Net Interest Revenue — the fastest-growing revenue line: $3,357, +19% y/y. · by the Q2 2026 report
How does Charles Schwab make money?
Charles Schwab brought in $7.07 billion of revenue in Q2 2026, up 21% year over year. The largest source was Net Interest Revenue: $3.36 billion, or 47% of the total, followed by Asset Mgmt & Admin Fees ($1.82B, 26%) and Trading Revenue ($1.22B, 17%); other lines add the remaining 10%. Net income for the quarter was $2.80 billion, up 32% year over year.
Revenue by source, Q2 2026
- Net Interest Revenue$3.36B · 47% · +19%
- Asset Mgmt & Admin Fees$1.82B · 26% · +16%
- Trading Revenue$1.22B · 17% · +28%
- Other Revenue$342M · 5% · +32%
- Bank Deposit Account Fees$333M · 5% · +35%
Shares of $7.07B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is SCHW’s next earnings date?
Thursday, October 15, 2026confirmed · before market open
Charles Schwab (SCHW) is scheduled to report results for the quarter ending Sep 2026 on Oct 15, 2026. Consensus EPS forecast: $1.67 (10 analysts), vs $1.31 in the same quarter last year.
What time does SCHW report? Usually after market close: the last 4 results releases reached the SEC at 4:16 pm, 4:17 pm, 4:16 pm, 4:25 pm ET.
Last report: Jul 21, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$7,072
+21%
Net income
$2,800
+32%
GAAP EPS $1.54, adj. $1.62
Verdict: an exceptionally strong quarter with record revenue and net income driven by broad-based growth in net interest revenue, trading, and asset management fees, with expense growth of 12% (mostly compensation) only a modest drag against 21% top-line growth.
Repurchased 11.2M shares for $1.0B; dividends declared $0.32/share (+19% y/y); guidance not issued in release.
Source and notation
* marks non-cash / ≈ estimated. Source: Charles Schwab press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
SCHW earnings history: past report dates
| Jul 21, 2026 Tue | 4:16 pmafter market close | Jun 30, 2026 | $7.1B+21% y/y | $1.54+43% y/y |
| Apr 16, 2026 Thu | 4:17 pmafter market close | Mar 31, 2026 | $6.5B+16% y/y | $1.37+38% y/y |
| Jan 21, 2026 Wed | 4:16 pmafter market close | Dec 31, 2025 | ≈$6.3B+19% y/y | ≈$1.32+40% y/y |
| Oct 16, 2025 Thu | 4:25 pmafter market close | Sep 30, 2025 | $6.1B+27% y/y | $1.26+77% y/y |
| Jul 18, 2025 Fri | 4:20 pmafter market close | Jun 30, 2025 | $5.9B+25% y/y | $1.08+64% y/y |
| Apr 17, 2025 Thu | 4:17 pmafter market close | Mar 31, 2025 | $5.6B+18% y/y | $0.99+46% y/y |
| Jan 21, 2025 Tue | 4:17 pmafter market close | Dec 31, 2024 | ≈$5.3B+20% y/y | ≈$0.94+84% y/y |
| Oct 15, 2024 Tue | 4:17 pmafter market close | Sep 30, 2024 | $4.8B+5% y/y | $0.71+27% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Charles Schwab: 5-year financials
| 2025 | 23,921 | 8,852 | 8,763 | 2,329 |
| 2024 | 19,606 | 5,942 | 2,050 | 2,275 |
| 2023 | 18,837 | 5,067 | 18,887 | 2,276 |
| 2022 | 20,762 | 7,183 | 1,086 | 2,110 |
| 2021 | 18,520 | 5,855 | 1,202 | 1,822 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Jun 2022SEC: three Schwab investment adviser subsidiaries misled robo-adviser clients by claiming there were no hidden costs and will pay $187M. sec.gov ↗
- Feb 20261,752.2M shares as of January 30, 2026 vs. 1,814.6M voting and 79.3M nonvoting shares as of January 31, 2022 (−7.5%); no nonvoting shares remain. sec.gov ↗
- Feb 2026In February 2025, the company repurchased 19.2M nonvoting shares from TD Bank at $77.982 as part of a secondary offering; dividend per share rose to $1.08 in 2025. sec.gov ↗
Scoring: 2.0, no deductions: the 2022 and 2011 SEC cases concern clients (robo-adviser, YieldPlus fund) and are not deducted under criterion 10; share count −7.5% over 4 years; TD's non-voting shares repurchased
- Share classes
- Voting common stock + depositary shares of preferreds; nonvoting common stock (issued to TD Bank in the TD Ameritrade acquisition) fully repurchased/converted in February 2025 — no unequal votes for insiders.
- Dilution
- Shares (voting + nonvoting) 1,893.9M (January 2022) → 1,752.2M (January 2026) = −7.5%; the TD Ameritrade acquisition (October 2020) falls outside the window; SBC 1.3% of revenue.
- Disclosure
- Full reporting, no violations.
- Dividends
- Dividend never cut, up from $0.72 (2021) to $1.08 (2025).
- Lawsuits & regulators
- SEC, Jun 13, 2022: advisory subsidiaries failed to disclose cash-allocation costs to Schwab Intelligent Portfolios clients ($187M) — a client matter, not deducted under criterion 10; YieldPlus (2011) is older than 15 years; the Corrente antitrust suit settled without cash.
- Related parties
- Repurchase of 19.2M nonvoting shares from TD Bank (February 2025) at $77.982 — the secondary offering price; TD did not control the company → no deduction.
How the score works · checked as of Sep 2026
Charles Schwab (SCHW) earnings: FAQ
How does Charles Schwab make money?
Charles Schwab brought in $7.07 billion of revenue in Q2 2026, up 21% year over year. The largest source was Net Interest Revenue: $3.36 billion, or 47% of the total, followed by Asset Mgmt & Admin Fees ($1.82B, 26%) and Trading Revenue ($1.22B, 17%); other lines add the remaining 10%. Net income for the quarter was $2.80 billion, up 32% year over year.
When is SCHW's next earnings date?
Charles Schwab (SCHW) is scheduled to report on Oct 15, 2026, before market open.
What time does SCHW report earnings?
Charles Schwab is scheduled to report before market open on Oct 15, 2026. Its last results releases were filed after market close, most recently at 4:16 pm ET on Jul 21, 2026.
When did SCHW last report earnings?
Charles Schwab reported Q2 2026 results on Jul 21, 2026.
What is the EPS estimate for SCHW's next earnings?
The consensus EPS forecast is $1.67 (10 analysts), vs $1.31 in the same quarter last year.
Where can I find Charles Schwab's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to SCHW's filings; this page breaks the latest report down in a Sankey chart.
What was SCHW's net income in Q2 2026?
Charles Schwab reported net income of $2,800M for Q2 2026 (+32% year over year), under US GAAP.
Does Charles Schwab pay dividends?
Yes. In 2025, Charles Schwab paid $2,329M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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