Charles Schwab reported second-quarter earnings that surpassed market expectations, driven by increased retail trading amid geopolitical uncertainties. The firm achieved a record daily average revenue trades of 11.9 million, marking a 57% year-over-year increase. Trading revenue rose 28% to $1.2 billion. Quarterly net revenue reached $7.07 billion, up 21% from the previous year, exceeding analysts' forecast of $6.92 billion. Schwab has raised its full-year revenue growth forecast to 14%-15% and plans to enhance retail services using artificial intelligence. The company also reported net new assets of $118.7 billion for the quarter, surpassing market expectations, and is planning to launch prediction market products linked to financial events.
Charles Schwab Exceeds Q2 Expectations with Record Retail Trading Volume
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