The Charles Schwab Corporation has announced its financial results for the second quarter of 2025, reporting a notable 25% increase in net revenues, reaching a record $5.9 billion compared to $4.69 billion in the same period last year. The company's net income also saw a significant rise, with GAAP net income totaling $2.1 billion, a 60% increase from $1.33 billion in the previous year. Adjusted net income reached $2.2 billion, marking a 52% increase from $1.47 billion in the second quarter of 2024. Earnings per share $(EPS)$ on a GAAP basis for the quarter were $1.08, up from $0.66 in the same period last year, representing a 64% increase. Adjusted EPS was reported at $1.14. The firm highlighted substantial growth in client activities, with over 1 million new brokerage accounts opened and $80.3 billion in core net new assets gathered during the quarter, up 31% compared to the second quarter of 2024. Total client assets reached a record $10.76 trillion. Net interest margin improved sequentially by 12 basis points to 2.65%, mainly due to a reduction of higher-cost liabilities and a rebound in securities lending activity. Client transactional sweep cash balances ended at $412.1 billion, reflecting a sequential increase influenced by tax seasonality and client net equity selling. No specific outlook or guidance for future periods was provided in the report.
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