Charles Schwab reported adjusted earnings per share of $1.39 for the fourth quarter, surpassing the consensus estimate of $1.36 and up 38% from $1.01 a year ago. Revenue reached a record $6.34 billion, a 19% increase year‐over‐year, narrowly exceeding Wall Street expectations and driven by broad‐based growth across net interest, trading and fee‐based businesses.

Total client assets rose 18% year‐over‐year to a record $11.90 trillion, while core net new assets totaled $163.9 billion in Q4, bringing full‐year inflows to $519.4 billion (up 42% versus 2024). New brokerage accounts topped one million for the fifth consecutive quarter, lifting active brokerage accounts to 38.5 million and total client accounts to 46.5 million.

Net interest margin expanded by 57 basis points from a year ago to 2.90%, driving net interest revenue up 25% year-over-year to $3.17 billion. Trading revenue climbed 22% to $1.07 billion on average daily volume of 8.3 million trades (up 31%), while asset management and administration fees grew 15% to $1.7 billion.

The firm ended the quarter with $46.0 billion in cash and equivalents and $255.7 billion in deposits. Schwab repurchased 29.2 million shares for $2.7 billion in Q4, bringing full‐year common stock repurchases to $11.8 billion. The debt‐to‐equity ratio stood at 0.56, while client transactional sweep cash balances rose by $28.1 billion to $453.7 billion.