Shares of Charles Schwab (SCHW) surged 5.68% in pre-market trading on Thursday following the release of its impressive first-quarter earnings report. The financial services giant outperformed Wall Street expectations, demonstrating resilience and growth in a volatile market environment.

Charles Schwab reported adjusted earnings per share of $1.04 for Q1 2025, surpassing the analyst consensus estimate of $1.01. This represents a significant 40.54% increase from the $0.74 per share reported in the same period last year. The company's quarterly revenue also beat expectations, coming in at $5.60 billion, above the estimated $5.51 billion and marking an 18.14% year-over-year increase from $4.74 billion.

The strong performance was attributed to increased market volatility, which drove a 17% jump in daily average trading volume. Additionally, Schwab reported robust growth in core net new assets, totaling $137.7 billion for the quarter, a 44% year-over-year increase. CEO Rick Wurster highlighted the company's "unwavering focus on serving the needs of clients across retail, advisor services, and workplace financial services" as a key factor in this asset gathering success. The positive results and outlook have bolstered investor confidence, leading to the significant pre-market stock price increase.