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News Release charles SCHWAB Contacts : MEDIA : Mayura Hooper Charles Schwab Phone : 415-667-1525 INVESTORS / ANALYSTS : Jeff Edwards Charles Schwab Phone : 415-667-1524 CORPORATION SCHWAB REPORTS RECORD FIRST QUARTER EARNINGS PER SHARE Unprecedented Client Engagement Included $ 148.2 Billion in Core Net New Assets , 3.2 Million New Brokerage Accounts and 8.4 Million Daily Average Trades , All Records WESTLAKE , Texas , April 15 , 2021 – The Charles Schwab Corporation announced today that its net income for the first quarter of 2021 was a record $ 1.5 billion , compared with $ 1.1 billion for the fourth quarter of 2020 , and $ 795 million for the first quarter of 2020. The company's financial results include TD Ameritrade from closing on October 6 , 2020 forward , as well as certain acquisition and integration - related costs and the amortization of acquired intangibles . Together these transaction - related expenses totaled $ 273 million pre - tax for the first quarter of 2021 . Financial Highlights Net revenues ( in millions ) Net income ( in millions ) GAAP Adjusted ( ¹ ) Diluted earnings per common share GAAP Adjusted ( ¹ ) Pre - tax profit margin GAAP Adjusted ( 1 ) Return on average common stockholders ' equity ( annualized ) Return on tangible common equity ( annualized ) ' ( 1 ) 2021 Three Months Ended March 31 , 2020 % Change $ 4,715 $ 2,617 80 % $ 1,484 $ 795 87 % $ 1,690 $ 827 104 % $ .73 $ .58 26 % $ .84 $ .61 38 % 41.6 % 40.0 % 47.4 % 41.7 % 12 % 14 % 24 % 16 % Note : All per - share results are rounded to the nearest cent , based on weighted - average diluted common shares outstanding . ( ¹ ) Further details on non - GAAP financial measures and a reconciliation of such measures to GAAP reported results are included on pages 10-11 of this release . CEO Walt Bettinger said , “ The first three months of 2021 have in many ways been both the most successful and the most challenging in our history . As the U.S. economic recovery advanced , supported by expanding COVID - 19 vaccine rollouts and government aid packages , the equity markets continued to climb , with the S & P 500Ⓡ rising 78 % between the pandemic - driven low in March 2020 and the end of this year's first quarter . Interest rates began to lift as well , with the 10 - year Treasury yield moving to 1.74 % by quarter - end - its highest level since January 2020. This environment contributed to another rise in client engagement and activity beyond the record levels of late last year . As investors turned to Schwab for help in navigating current conditions , they opened 3.2 million new brokerage accounts - a level that exceeds our reported total for all of 2020 , excluding the accounts we acquired as part of our recent M & A activity . At the same time , elevated interest in technology and other growth - oriented stocks , as well as heightened market attention to certain names via social media , significantly bolstered trading activity . Daily trades rose to an average of 8.4 million in the first three months of 2021 , with a single day peak of 12.3 million . That -1-