Investing.com -- Shares in Charles Schwab slid nearly 3% in U.S. premarket trading Tuesday even as the brokerage reported record second-quarter revenue and earnings that topped Wall Street estimates.

Schwab posted second-quarter earnings per share of $1.62, beating the analyst estimate of $1.54. Revenue came in at a record $7.1 billion, up 21% year-over-year and above the $6.85 billion consensus.

Total client assets rose 22% year-over-year to $13.08 trillion, while core net new assets totaled $119.8 billion, up 49% versus the second quarter of 2025. Daily average trading volume reached a record 11.9 million, up 57% year-over-year.

“Schwab’s leading value proposition continued to resonate in 2Q26, as investors opened 1.4 million new brokerage accounts and brought $120 billion in core net new assets to the firm. June core asset gathering totaled a record $62.7 billion – an annualized organic growth rate of 5.8%," said President and CEO Rick Wurster in the press release.

Net interest margin expanded 12 basis points quarter-over-quarter to 3.00%.

Return on average common stockholders’ equity came in at an annualized 25%, while return on tangible common equity was 44% annualized.