03.02.26

Fidelity’s Annual Profit Jumps After Market Rally Lifts Revenue to a Record

by: Hannah Erin Lang

Fidelity Investments reported record annual results as a prolonged market rally boosted revenue and profits. Parent company FMR LLC said operating income rose 24% to $12.7 billion, while revenue climbed 15% to a record $37.7 billion. Surging stock prices and higher interest rates, along with strong inflows from retail investors trading stocks, options and cryptocurrencies, fueled growth across the brokerage industry, benefiting peers like Charles Schwab and Robinhood Markets. Fidelity’s assets under management increased 19% to $7.1 trillion, as the firm expanded exchange-traded funds, crypto offerings and health savings accounts.

Read the full article on The Wall Street Journal