Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Friday reported a sharp increase in revenues and adjusted earnings for the second quarter of fiscal 2025.
Net revenues grew 25% year-over-year to a record $5.9 billion in the second quarterNet Income available to stockholders rose to $1.98 billion or $1.08 per share in Q2 from $1.21 billion or $0.66 per share last yearAdjusted earnings per share, excluding special items, were $1.14 per share, up 56% from the prior-year quarterCore net new assets were $80.3 billion at the end of the quarter, up 31% year-over-year; total client assets reached a record $10.76 trillionNew brokerage account openings rose 11% YoY to 1.1 million in Q2, helping active brokerage accounts reach 37.5 millionDuring the quarter, managed investing solution net inflows grew 37% compared to the second quarter of FY24Net interest margin rose by 12 basis points QoQ to 2.65%, mainly reflecting a further reduction of higher cost liabilities and a rebound in securities lending activityIn the June quarter, asset management and administration fees increased by 14% year-over-year to $1.6 billion
