Filing Flows › Schwab Charles (SCHW) › Q2 2025
Schwab Charles (SCHW) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Schwab Charles (SCHW) reported revenue of $5.9B for the second quarter 2025 (Q2 2025), +25% from a year earlier and +5% from the quarter before. Operating margin was 47.9%, net earnings $2.1B (36.3% of revenue).
Schwab Charles, Q2 2025: revenue $5.9B (+25% year over year), operating margin 47.9%, net earnings $2.1B, operating cash flow $3.2B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.9B | +5% | +25% |
| Operating profit | $2.8B | +14% | +60% |
| Net earnings | $2.1B | +11% | +60% |
| Operating cash flow | $3.2B | -50% | — |
| Free cash flow | $3.0B | -51% | — |
What changed
Revenue was $5.9B in Q2 2025, up 25% year over year and up 5% from the previous quarter. Investor Services was the largest line at 79% of revenue. Investor Services added $0.92B year over year (up 25%), 79% of the total change.
Operating profit was $2.8B, a 47.9% margin (up 10.7 points year over year). Of the extra revenue versus a year earlier, 91% reached operating profit, above the 37% margin then. Total costs grew 4% against revenue growth of 25%. Net earnings were $2.1B, up 60% year over year. The effective tax rate was 24.2%.
Operating cash flow was $3.2B, 149% of net earnings. Non-cash charges added back $0.07B of share-based compensation. Working capital and other items added $1.0B. Capital expenditures of $0.13B left free cash flow of $3.0B.
Questions
What was Schwab Charles' revenue in the second quarter 2025?
Schwab Charles (SCHW) reported revenue of $5.9B for the second quarter 2025 (Q2 2025), +25% from a year earlier and +5% from the quarter before.
Was Schwab Charles profitable in the second quarter 2025?
Operating profit was $2.8B (47.9% of revenue) and net earnings $2.1B.
Source: Schwab Charles 10-Q on SEC EDGAR.