Schwab Q3 FY2026: record $7.17 billion revenue, $1.62 EPS
Schwab's third quarter was a clean record: revenue of $7.17 billion, net income of $2.91 billion and GAAP EPS of $1.62, all ahead of last year by double digits. Adjusted EPS of $1.69 merely matched the $1.6927 consensus, so the surprise came from scale, not from a blowout. Read the quarter as a growth story with a valuation question attached.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $1.62 is up 29.0% from $1.26, and adjusted EPS of $1.69 is up the same 29.0% from $1.31. Against a $1.6927 consensus, adjusted EPS landed a fraction of a cent light — a match, not a beat. A 4.0% smaller diluted share count (1.733 billion versus 1.811 billion) did real work here, so per-share growth outran net income growth of 23.0%.
Revenue of $7.17 billion rose 17.0% from $6.14 billion a year earlier and 1.4% from the prior quarter's $7.07 billion, a record on both counts. The growth was broad rather than one-off: net interest revenue of $3.48 billion (+14.0%), asset management and administration fees of $1.91 billion (+14.0%), trading revenue of $1.16 billion (+16.0%) and bank deposit account fees of $345 million (+40.0%). Net interest margin widened to 3.0%, which says the deposit side got cheaper rather than lending getting richer.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-07
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