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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 RECORD QUARTERLY EARNINGS PER SHARE Core Net New Assets Rise 28 % Sequentially to $ 139.0 Billion , a Third Quarter Record Total Client Assets Reach $ 7.61 Trillion , up 14 % Year - to - Date WESTLAKE , Texas , October 15 , 2021 The Charles Schwab Corporation announced today that its net income for the third quarter of 2021 was a record $ 1.5 billion compared with $ 1.3 billion for the second quarter of 2021 , and $ 698 million for the third quarter of 2020. Net income for the nine months ended September 30 , 2021 was $ 4.3 billion , compared with $ 2.2 billion for the year - earlier period . The company's financial results include TD Ameritrade from October 6 , 2020 forward , as well as certain acquisition and integration - related costs and the amortization of acquired intangibles . For the third quarter and first nine months of 2021 , these transaction - related expenses totaled $ 257 million and $ 828 million , respectively , on a pre - tax basis . In addition , the company's results for the first nine months of 2021 included a non - deductible charge of approximately $ 200 million regarding a previously disclosed regulatory matter . ( 1 ) Financial Highlights ( 1 ) Net revenues ( in millions ) Net income ( in millions ) GAAP Adjusted ( ¹ ) Diluted earnings per common share GAAP Adjusted Pre - tax profit margin 2021 Three Months Ended September 30 , 2020 % Nine Months Ended September 30 , % Change 2021 2020 Change $ 4,570 $ 2,448 87 % $ 13,812 $ 7,515 84 % $ 1,526 $ 698 $ 1,722 $ 749 119 % $ 4,275 $ 2,164 98 % 130 % $ 4,895 $ 2,318 111 % $ .74 $ EA .48 54 % $ 2.06 $ 1.54 34 % $ .84 $ .51 65 % $ 2.39 $ 1.66 44 % GAAP 44.0 % 36.3 % 41.2 % 37.6 % Adjusted ( ¹ ) 49.6 % 39.1 % 47.2 % 40.3 % Return on average common stockholders ' equity ( annualized ) 12 % 10 % 11 % 12 % Return on tangible common equity ( annualized ) ( ¹ ) 23 % 12 % 21 % 14 % 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 , “ Guided by our “ Through Clients ' Eyes " strategy , Schwab continues to drive robust business momentum as we support investors through an uneven economic recovery . While bullish sentiment largely persisted throughout the third quarter , debates regarding the overall pace of economic growth , the potential path of inflation , and the ultimate impact of certain global market disruptions weighed on this optimism – contributing to the S & P 500Ⓡ ending September essentially flat versus June 30. Through it all , investors consistently turned to Schwab as a trusted financial partner , opening over a million new brokerage accounts for the fourth consecutive quarter – bringing year - to- date new brokerage accounts to 6.0 million . We generated core net new assets of $ 139.0 billion in the quarter , pushing asset gathering for the first nine months of the year to $ 396.0 billion , representing an 8 % annualized organic growth rate . - 1 - -