Schwab and Interactive Brokers post record earnings, embrace crypto
6.8 Investments Schwab posted record Q2 revenue and launched direct Bitcoin and Ethereum trading. Interactive Brokers also beat forecasts, driven by increased trading and crypto activity.
Charles Schwab reported record second-quarter revenue of $7.1 billion, up 21% year over year, with adjusted earnings per share of $1.62. Both figures surpassed Wall Street estimates. Net income rose 32% to $2.8 billion, and total client assets reached $13.1 trillion. Daily trading volume surged to 11.9 million, and Schwab attracted $120 billion in core net new assets. The firm also launched direct Bitcoin and Ethereum trading for retail clients, signaling increased retail engagement and a strategic shift toward crypto offerings. Meanwhile, Interactive Brokers posted Q2 revenue of $1.90 billion and adjusted EPS of $0.69, both beating expectations. The brokerage benefited from higher customer activity, with commission revenue up 30% and net interest income rising 23%. Both firms highlighted strong retail participation and growing interest in crypto trading.
