Q2 25 EPS
$4.51
BEAT +7.08%
Est. $4.21
Q2 25 Revenue
$3.84B
BEAT +1.48%
Est. $3.78B
vs S&P Since Q2 25
-37.6%
TRAILING MARKET
LPLA -21.7% vs S&P +15.9%
Market Reaction
Did LPLA Beat Earnings? Q2 2025 Results
LPL Financial delivered a strong second quarter, posting adjusted EPS of $4.51 and beating the $4.21 consensus estimate by 7.08%, while revenue of $3.84 billion cleared expectations by 1.48% and surged 30.8% from a year ago. The driving force behind … Read more LPL Financial delivered a strong second quarter, posting adjusted EPS of $4.51 and beating the $4.21 consensus estimate by 7.08%, while revenue of $3.84 billion cleared expectations by 1.48% and surged 30.8% from a year ago. The driving force behind the results was the firm's continued asset expansion, with total advisory and brokerage assets climbing 28% year-over-year to $1.92 trillion, supported by non-GAAP gross profit growth of 21% to $1.30 billion and advisory revenue that rose 33%. LPL's shares have recently touched record highs, reflecting broader optimism around the wealth management sector and the company's aggressive growth posture. That ambition is on full display heading into the back half of 2025, as LPL expects to close its $2.7 billion acquisition of Commonwealth Financial Network on August 1, adding roughly 3,000 advisors and $305 billion in assets, with full platform conversion targeted for Q4 2026. Management updated its full-year Core G&A outlook to $1.88 billion to $1.92 billion, incorporating an estimated $160 million to $170 million of Commonwealth-related costs.
Key Takeaways
- • Total advisory and brokerage assets increased 28% year-over-year to $1.9 trillion
- • Advisory revenue grew 33% year-over-year driven by higher asset levels
- • Organic net new assets of $21 billion representing 5% annualized growth
- • Gross profit increased 21% year-over-year to $1.304 billion
- • Net interest income increased 62% year-over-year due to higher balances
- • Client cash balances increased $7 billion year-over-year to $51 billion
- • S&P 500 rose 14% year-over-year, supporting asset-based revenue growth
LPLA YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
LPLA Revenue by Segment
With YoY comparisons, source: SEC Filings
“We continue to execute on our vision to be the best firm in wealth management. In Q2, we delivered another quarter of strong business performance and excellent financial results, while continuing to advance key initiatives.”
— Rich Steinmeier, Q2 2025 Earnings Press Release
LPLA Earnings Trends
LPLA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LPLA EPS Trend
Earnings per share: estimate vs actual
LPLA Revenue Trend
Quarterly revenue: estimate vs actual
LPLA Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $5.60 | — | $4.94B | -1.18% |
| Q4 25 BEAT FY | $4.99 | $5.23 | +4.81% | $4.93B | +1.61% |
| FY Full Year | $19.80 | $20.09 | +1.48% | $16.99B | +0.46% |
| Q3 25 BEAT | $4.49 | $5.20 | +15.79% | $4.55B | +5.61% |
| Q2 25 BEAT | $4.21 | $4.51 | +7.08% | $3.84B | +1.48% |
| Q1 25 BEAT | $4.64 | $5.15 | +10.97% | $3.67B | +1.46% |