Charles Schwab Reports Record Fourth-Quarter Earnings and Revenue Growth

The financial services firm's profits surged 44%, driven by increased trading activity and record asset management fees.

Charles Schwab's fourth-quarter profit rose 44% year-over-year, reaching $1.84 billion, exceeding analysts' expectations of $1.68 billion.
Revenue for the quarter grew 20% to $5.33 billion, surpassing projections of $5.21 billion, with net interest income also beating estimates.
Asset management and administration fees set a quarterly record of $1.51 billion, bolstered by strong client engagement and market activity post-election.
The company reported total client assets of $10.1 trillion, marking a 19% year-over-year increase, though slightly below analyst expectations of $10.17 trillion.
Under new CEO Rick Wurster, Schwab completed the integration of TD Ameritrade clients and recorded $55 billion in net inflows to its managed investing business in 2024.