Charles Schwab reported a nearly 60% jump in second-quarter profit, fueled by strong trading activity and higher asset management fees amid market volatility driven by President Trump’s tariff policies.

Net income rose to $2.13 billion, or $1.08 per share, up from $1.33 billion a year earlier.

Trading revenue climbed to $952 million, and total client assets hit a record $10.76 trillion, Reuters has reported.

Shares rose 2.5% in premarket trading.

Written by B.C. Begley