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News Release Contacts : MEDIA : Mayura Hooper Charles Schwab Phone : 415-667-1525 INVESTORS / ANALYSTS : Jeff Edwards Charles Schwab Phone : 415-667-1524 charles SCHWAB CORPORATION SCHWAB REPORTS SECOND QUARTER RESULTS Core Net New Assets Total $ 108.8 Billion , a Second Quarter Record Client Assets Reach a Record $ 7.57 Trillion - WESTLAKE , Texas , July 16 , 2021 – The Charles Schwab Corporation announced today that its net income for the second quarter of 2021 was $ 1.3 billion , compared with $ 1.5 billion for the first quarter of 2021 , and $ 671 million for the second quarter of 2020. Net income for the six months ended June 30 , 2021 was $ 2.7 billion , compared with $ 1.5 billion for the year - earlier period . 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 . For the second quarter and first half of 2021 , these transaction - related expenses totaled $ 298 million and $ 571 million , respectively , on a pre - tax basis . In addition , the company's second quarter of 2021 results included a non - deductible charge of $ 200 million , or $ .10 per share , regarding a previously disclosed regulatory matter . Financial Highlights ( 1 ) 2021 Three Months Ended June 30 , 2020 % Six Months Ended June 30 , % Change 2021 2020 Change Net revenues ( in millions ) Net income ( in millions ) $ 4,527 $ 2,450 85 % $ 9,242 $ 5,067 82 % GAAP Adjusted ( 2 ) $ 1,265 $ 671 $ 1,483 $ 742 89 % $ 2,749 $ 1,466 88 % 100 % $ 3,173 $ 1,569 102 % Diluted earnings per common share GAAP $ .59 $ .48 23 % $ 1.32 $ 1.07 23 % Adjusted ( 2 ) $ .70 $ .54 30 % $ 1.55 $ 1.14 36 % Pre - tax profit margin GAAP 38.0 % 36.2 % 39.8 % 38.2 % Adjusted ( 2 ) 44.6 % 40.0 % 46.0 % 40.9 % Return on average common stockholders ' equity ( annualized ) 10 % 10 % 10 % 12 % Return on tangible common equity ( annualized ) ( 2 ) 20 % 12 % 21 % 15 % Note : All per - share results are rounded to the nearest cent , based on weighted - average diluted common shares outstanding . ( 1 ) Approximate impact of the $ 200 million regulatory matter charge , included in other expense , on results for the three months ended June 30 , 2021 is as follows : Diluted earnings per common share , $ .10 ; pre - tax profit margin , 4.4 % ; return on average common stockholders ' equity , 1 % ; and return on tangible common equity , 3 % . ( 2 ) 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 , “ Schwab's strong business momentum is sustained by the power of our contemporary full - service model as it continues to attract new clients and deepen existing relationships . During the second quarter , signs of normalcy took root across the U.S. as vaccinations accelerated , social activities largely resumed , and people started returning to corporate offices . At the same time , equity markets continued their ascent , -1-