Schwab Revenue Misses Estimates Even as Client Assets Climb

Charles Schwab Corp. reported first-quarter revenue that slightly missed estimates even as the brokerage continued to attract the wealth of retail investors amid geopolitical uncertainty.

First-quarter net revenue of $6.48 billion fell short of analyst expectations of $6.51 billion. Net interest margin, a key measure of profitability for Schwab’s bank, came in at 2.88% for the first three months of the year, while analysts had forecast 2.94%.