Filing Flows › LPL Financial Holdings (LPLA) › Q2 2025
LPL Financial Holdings (LPLA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
LPL Financial Holdings (LPLA) reported revenue of $3.8B for the second quarter 2025 (Q2 2025), +31% from a year earlier and +4% from the quarter before. Operating margin was 9.6%, net earnings $273M (7.1% of revenue).
LPL Financial Holdings, Q2 2025: revenue $3.8B (+31% year over year), operating margin 9.6%, net earnings $273M, operating cash flow $193M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | +4% | +31% |
| Operating profit | $369M | -12% | +12% |
| Net earnings | $273M | -14% | +12% |
| Operating cash flow | $193M | -43% | — |
| Free cash flow | $56.3M | -74% | — |
What changed
Revenue was $3.8B in Q2 2025, up 31% year over year and up 4% from the previous quarter.
Operating profit was $0.37B, a 9.6% margin (down 1.6 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, below the 11% margin then. Total costs grew 33% against revenue growth of 31%. Net earnings were $0.27B, up 12% year over year. The effective tax rate was 25.9%.
Operating cash flow was $0.19B, 71% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.20B. Capital expenditures of $0.14B left free cash flow of $0.06B.
Questions
What was LPL Financial Holdings' revenue in the second quarter 2025?
LPL Financial Holdings (LPLA) reported revenue of $3.8B for the second quarter 2025 (Q2 2025), +31% from a year earlier and +4% from the quarter before.
Was LPL Financial Holdings profitable in the second quarter 2025?
Operating profit was $369M (9.6% of revenue) and net earnings $273M.