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Charles Schwab Stock Falls 4% After Revenue Miss
Why is Schwab stock down today?
Charles Schwab (SCHW) stock fell about 4% to $92.96 in premarket trading on Thursday after revenue and net interest revenue came in slightly below estimates despite record results.
Key numbers
| Net revenue | $7.17B+17% YoY; est. $7.20B |
|---|---|
| Net interest revenue | $3.48B+14% YoY; est. $3.53B |
| Core net new assets | $190.4B+38% YoY, a record |
| Adjusted EPS | $1.69+29% YoY; est. $1.66 |
| Total client assets | $13.33T+15% YoY |
| SCHW premarket | $92.96-3.97% vs $96.80 close |
What happened
Charles Schwab (SCHW) stock fell about 4% to $92.96 in premarket trading on Thursday after revenue and net interest revenue came in slightly below estimates despite record results. Sales hit a record $7.17 billion, up 17% from a year ago, but just under the $7.20 billion analysts expected. Net interest revenue, what Schwab earns on loans and cash after paying savers, was $3.48 billion versus $3.53 billion expected. Clients added a record $190.4 billion in new assets, and adjusted profit per share of $1.69 beat forecasts. Management said 2026 sales growth should land near the low end of its forecast range.
Why it matters
Schwab's shares fell even though it posted record sales and record new customer money, showing investors are watching how fast its lending income is growing. Net interest revenue grew 14%, down from 19% last quarter and 37% in the same quarter last year. That income is nearly half of Schwab's sales, so slower growth can weigh on the stock even in a record quarter.
Who this affects
- MarketmixedLow impact
- Brokerage investors weigh record growth against slowing lending income.
- CompanymixedMedium impact
- Shareholders face a lower share price despite record results.
- CompetitorsneutralLow impact
- Peers traded mostly flat to slightly lower; little spillover.
- IndustryneutralLow impact
- Brokers' lending income growth is now closely watched.
Charles Schwab vs Morgan Stanley, Interactive Brokers, Robinhood
How we got here
Schwab reports record Q3 sales, earnings and $190.4B in core net new assets.
Shares drop 3.97% premarket to $92.96 from a $96.80 close.
Stock trades about 3% lower at $93.90 by mid-afternoon.
What to watch
- Whether loan growth speeds up net interest revenue, which grew 14% in Q3.Q4 2026
- Whether 2026 sales and lending margin growth finish near the low end of forecasts.Q4 2026
Educational content only. Not investment advice.
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