Filing Flows › Schwab Charles (SCHW) › Q3 2026 › vs Q2 2026
Schwab Charles (SCHW) Q3 2026 vs Q2 2026 (quarter over quarter)
Schwab Charles's revenue rose $99.0M (+1%) from $7.1B in Q2 2026 to $7.2B in Q3 2026. The biggest changes: Investor Services +$115M (+2%); Advisor Services −$16.0M (-1%). Operating margin 52.7% against 51.9% (+0.8 pts).
Schwab Charles, Q3 2026: revenue $7.2B (+17% year over year), operating margin 52.7%, net earnings $2.9B, operating cash flow $1.6B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 52.7% | 51.9% | +0.8 pts |
| Net margin | 40.5% | 39.6% | +0.9 pts |
| Free cash flow margin | 18.1% | 58.2% | -40.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Investor Services | $5.6B | $5.5B | $115M | +2% |
| Advisor Services | $1.5B | $1.5B | −$16.0M | -1% |
| Revenue | $7.2B | $7.1B | $99.0M | +1% |
| Operating profit | $3.8B | $3.7B | $108M | +3% |
| Costs & expenses | $3.4B | $3.4B | −$9.0M | -0.3% |
| Pre-tax earnings | $3.8B | $3.7B | $108M | +3% |
| Sales & marketing | $114M | $111M | $3.0M | +3% |
| Other operating costs | $3.3B | $3.3B | −$12.0M | -0.4% |
| Net earnings | $2.9B | $2.8B | $106M | +4% |
| Income tax | $871M | $869M | $2.0M | +0.2% |
| Share-based compensation | $65.0M | $92.0M | −$27.0M | -29% |
| Working capital & other | $1.4B | −$1.4B | $2.8B | — |
| Operating cash flow | $1.6B | $4.3B | −$2.7B | -62% |
| Free cash flow (OCF − capex) | $1.3B | $4.1B | −$2.8B | -68% |
| Capital expenditures | $314M | $185M | $129M | +70% |
Questions
How much did Schwab Charles's revenue grow quarter over quarter in Q3 2026?
Schwab Charles's revenue rose $99.0M (+1%) from $7.1B in Q2 2026 to $7.2B in Q3 2026.
What drove Schwab Charles's revenue change in Q3 2026?
Investor Services +$115M (+2%); Advisor Services −$16.0M (-1%).