SCHW Q3 2025 Earnings
Reported Oct 16, 2025 at 4:25 PM ET · SEC Source
Q3 25 EPS
$1.31
BEAT +5.21%
Est. $1.25
Q3 25 Revenue
$6.14B
BEAT +1.96%
Est. $6.02B
vs S&P Since Q3 25
-9.5%
TRAILING MARKET
SCHW -1.1% vs S&P +8.5%
Market Reaction
Did SCHW Beat Earnings? Q3 2025 Results
Charles Schwab delivered a strong third quarter, posting earnings per share of $1.31 against a consensus estimate of $1.25, a beat of 5.21%, while revenue of $6.13 billion topped expectations by 1.96%, even as the top line reflected a 6.4% decline fr… Read more Charles Schwab delivered a strong third quarter, posting earnings per share of $1.31 against a consensus estimate of $1.25, a beat of 5.21%, while revenue of $6.13 billion topped expectations by 1.96%, even as the top line reflected a 6.4% decline from a year ago. The most consequential driver behind the results was a 37% surge in net interest revenue to $3.05 billion, fueled by a 78-basis-point expansion in net interest margin to 2.86% as the company continued aggressively unwinding higher-cost bank supplemental funding, which fell $12.90 billion during the quarter to $14.80 billion. GAAP net income climbed 67% to $2.36 billion, and the pre-tax profit margin expanded sharply to 49.2% from 38.0% a year ago, underscoring significant operating leverage. Client momentum remained a bright spot, with core net new assets of $137.50 billion and total client assets reaching $11.59 trillion. Management signaled confidence in the trajectory ahead, pointing to continued organic growth, deepening wealth solution adoption, and ongoing capital returns, backed by a $20 billion share repurchase program.
Key Takeaways
- • Net interest margin expanded 21 basis points sequentially to 2.86% due to reduction of higher-cost liabilities, strong securities lending activity, and increased client utilization of lending solutions
- • Core net new assets of $137.5 billion, up 44% year-over-year
- • New brokerage account openings exceeded 1 million for the fourth consecutive quarter
- • Daily average trading volume of 7,421 thousand, up 30% year-over-year
- • Managed Investing Solutions net inflows grew 40% versus 3Q24
- • Bank Supplemental Funding declined by $12.9 billion to $14.8 billion
- • Client transactional sweep cash increased $13.5 billion sequentially to $425.6 billion
- • Margin balances ended the quarter at $97.2 billion, up 16% versus year-end 2024
- • Securities lending revenue more than doubled year-over-year
- • Increasing client interest in derivatives trading
SCHW YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
SCHW Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our unwavering focus on delivering for clients helped us attract $137.5 billion in 3Q core net new assets plus over 1 million new brokerage accounts for the fourth straight quarter.”
— Rick Wurster, Q3 2025 Earnings Press Release
SCHW Earnings Trends
SCHW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SCHW EPS Trend
Earnings per share: estimate vs actual
SCHW Revenue Trend
Quarterly revenue: estimate vs actual
SCHW Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.39 | $1.43 | +3.00% | $6.48B | -0.08% |
| Q4 25 BEAT FY | $1.39 | $1.39 | +0.00% | $6.34B | +91.30% |
| FY Full Year | $4.86 | $4.87 | +0.13% | $23.92B | +0.43% |
| Q3 25 BEAT | $1.25 | $1.31 | +5.21% | $6.14B | +1.96% |
| Q2 25 BEAT | $1.07 | $1.14 | +6.48% | $5.85B | +3.70% |