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Charles Schwab reports record profit and crypto plans

The firm posted a record $2.48 billion profit for the first quarter. Revenue rose 16 percent as the company prepares to launch retail spot crypto trading soon.

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The first quarter of 2026 saw SCHWAB (CHARLES) CORP achieve record-breaking financial results, fueled by significant client growth and a surge in trading activity. The financial services giant, based in the United States, reported that its quarterly revenue increased by 16% to reach a record $6.48 billion. This performance was bolstered by high levels of engagement across its wealth management, trading, and lending services.

The Charles Schwab logo is seen at a branch in the New York financial district, United States, on March 20, 2023. REUTERS/Brendan McDermid
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