Filing Flows › Schwab Charles (SCHW) › Q2 2026 › vs Q1 2026
Schwab Charles (SCHW) Q2 2026 vs Q1 2026 (quarter over quarter)
Schwab Charles's revenue rose $590M (+9%) from $6.5B in Q1 2026 to $7.1B in Q2 2026. The biggest changes: Investor Services +$451M (+9%); Advisor Services +$139M (+10%). Operating margin 51.9% against 49.2% (+2.7 pts).
Schwab Charles, Q2 2026: revenue $7.1B (+21% year over year), operating margin 51.9%, net earnings $2.8B, operating cash flow $4.3B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 51.9% | 49.2% | +2.7 pts |
| Net margin | 39.6% | 38.2% | +1.3 pts |
| Free cash flow margin | 58.2% | 111.1% | -52.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Investor Services | $5.5B | $5.1B | $451M | +9% |
| Advisor Services | $1.5B | $1.4B | $139M | +10% |
| Revenue | $7.1B | $6.5B | $590M | +9% |
| Operating profit | $3.7B | $3.2B | $481M | +15% |
| Costs & expenses | $3.4B | $3.3B | $109M | +3% |
| Pre-tax earnings | $3.7B | $3.2B | $481M | +15% |
| Sales & marketing | $111M | $101M | $10.0M | +10% |
| Other operating costs | $3.3B | $3.2B | $99.0M | +3% |
| Net earnings | $2.8B | $2.5B | $321M | +13% |
| Income tax | $869M | $709M | $160M | +23% |
| Share-based compensation | $92.0M | $138M | −$46.0M | -33% |
| Working capital & other | $1.4B | $4.7B | −$3.3B | -70% |
| Operating cash flow | $4.3B | $7.3B | −$3.0B | -41% |
| Free cash flow (OCF − capex) | $4.1B | $7.2B | −$3.1B | -43% |
| Capital expenditures | $185M | $140M | $45.0M | +32% |
Questions
How much did Schwab Charles's revenue grow quarter over quarter in Q2 2026?
Schwab Charles's revenue rose $590M (+9%) from $6.5B in Q1 2026 to $7.1B in Q2 2026.
What drove Schwab Charles's revenue change in Q2 2026?
Investor Services +$451M (+9%); Advisor Services +$139M (+10%).