Charles Schwab profit surges on trading boom, asset growth

Charles Schwab reported a nearly 60% jump in second‑quarter profit, fueled by strong trading activity and higher asset management fees amid market volatility driven by President Trump’s tariff policies. Net income rose to $2.13 billion, or $1.08 per share, up from $1.33 billion a year earlier. Trading revenue climbed to $952 million, and total client assets hit a record $10.76 trillion, Reuters has reported. Shares rose 2.5% in premarket trading.