Shares of Charles Schwab (NYSE: SCHW) rose more than 1% intra-day on Wednesday after the company reported fourth-quarter earnings that matched analyst expectations alongside record revenue.

Schwab posted adjusted earnings per share of $1.39 for the quarter, in line with consensus estimates. Revenue reached a record $6.34 billion, also matching forecasts and representing a 19% increase from the same period last year.

The company reported robust client asset growth, with total client assets rising 18% year over year to a record $11.90 trillion. Core net new assets totaled $163.9 billion during the quarter, bringing full-year inflows to $519.4 billion and reflecting organic growth of 5.1%.

Net interest margin expanded to 2.90%, up 57 basis points from the fourth quarter of 2024. Asset management and administration fees increased 15% year over year to $1.7 billion, while trading revenue climbed 22% compared with the prior-year quarter.