Schwab Q3 2026 Earnings: Record $190B in Core Net New Assets

Schwab Q3 2026 earnings were a record-setter across the board. Charles Schwab reported on October 15 that clients brought in $190.4 billion of core net new assets in the third quarter, up 38% from a year ago, while revenue, earnings per share and trading activity all climbed sharply. If you want a single snapshot of how engaged everyday investors are right now, this is it.

• Revenue: a record $7.17 billion in net revenues, up 17% year over year, per Schwab's 8-K filing.
• Earnings: record GAAP EPS of $1.62 and adjusted EPS of $1.69, both up 29%.
• Client growth: $190.4 billion in core net new assets, 1.2 million new brokerage accounts and $13.33 trillion in total client assets.
• Trading: daily average trades of 10.69 million, up 44% year over year.

What Drove Schwab's Record Quarter?

Pretty much every engine fired at once. According to the release, net interest revenue rose 14% to $3.48 billion, asset management and administration fees rose 14% to $1.91 billion, and trading revenue climbed 16% to $1.16 billion. Bank deposit account fees jumped 40% to $345 million.

CEO Rick Wurster put the inflows down to Schwab's value proposition continuing to resonate with both individual investors and the registered investment advisors who custody client money at Schwab. That 38% jump in core net new assets is the number I would circle; it means new money is choosing the platform, not just existing balances rising with the market.

How Profitable Was Schwab in Q3?

Very. GAAP net income came in at $2.91 billion, up 23%, and adjusted net income reached $3.02 billion. The GAAP pre-tax profit margin improved to 52.7% from 49.2% a year earlier, or 54.8% on an adjusted basis. The adjusted figures exclude $151 million of pre-tax costs, most of which is amortization of acquired intangibles.

Schwab is also broadening how investors can own its shares, following its dual listing on the Texas Stock Exchange.

What Does It Mean for Shareholders?

Schwab is sending more cash back. The company repurchased 4.7 million shares for about $0.5 billion during the quarter and declared dividends of $0.32 per share, up 19% from $0.27 a year earlier.

Why Retail Investors Should Care

Schwab is one of the best real-time windows into retail investing. A 44% rise in daily trades and 1.2 million new accounts in a single quarter say people are actively engaging with markets, and the company now holds 40.26 million active brokerage accounts. It is a strong follow-up to the bank results we covered earlier this week, including Goldman Sachs' Q3 equities surge, and it adds to an earnings season that is shaping up well for financial firms. Catch more market coverage in our stock trading section.

Sources: Charles Schwab Q3 2026 earnings release (SEC Form 8-K, Exhibit 99.1) — October 15, 2026.