LPL Financial Holdings Inc.
For the period ended Jun 30, 2025. Filed Aug 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 4, 2025
LPLA$308.51+1.0%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Statements of Income (unaudited)
Condensed Consolidated Statements of Income
(In thousands, except per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| REVENUE | ||||
| Advisory | $1,717,738 | $1,288,163 | $3,406,983 | $2,487,974 |
| Commission: | ||||
| Sales-based | 619,792 | 423,070 | 1,229,830 | 808,305 |
| Trailing | 418,295 | 363,976 | 856,014 | 725,187 |
| Total commission | 1,038,087 | 787,046 | 2,085,844 | 1,533,492 |
| Asset-based: | ||||
| Client cash | 397,332 | 341,475 | 789,363 | 693,857 |
| Other asset-based | 305,015 | 259,533 | 608,225 | 507,872 |
| Total asset-based | 702,347 | 601,008 | 1,397,588 | 1,201,729 |
| Service and fee | 151,839 | 135,000 | 297,038 | 267,172 |
| Interest income, net | 76,941 | 47,478 | 120,792 | 91,003 |
| Transaction | 60,541 | 58,935 | 128,405 | 116,193 |
| Other | 87,532 | 14,139 | 68,382 | 66,799 |
| Total revenue | 3,835,025 | 2,931,769 | 7,505,032 | 5,764,362 |
| EXPENSE | ||||
| Advisory and commission | 2,483,165 | 1,819,027 | 4,837,090 | 3,552,514 |
| Compensation and benefits | 319,100 | 274,000 | 624,646 | 548,369 |
| Promotional | 177,552 | 136,125 | 323,197 | 262,744 |
| Interest expense on borrowings | 105,636 | 64,341 | 191,498 | 124,423 |
| Depreciation and amortization | 96,231 | 70,999 | 188,587 | 138,157 |
| Occupancy and equipment | 81,443 | 69,529 | 158,683 | 135,793 |
| Amortization of other intangibles | 46,103 | 30,607 | 89,624 | 60,159 |
| Brokerage, clearing and exchange | 43,290 | 32,984 | 87,428 | 63,516 |
| Professional services | 41,092 | 22,100 | 77,418 | 35,379 |
| Communications and data processing | 21,417 | 19,406 | 40,923 | 39,150 |
| Other | 51,192 | 62,580 | 99,881 | 99,895 |
| Total expense | 3,466,221 | 2,601,698 | 6,718,975 | 5,060,099 |
| INCOME BEFORE PROVISION FOR INCOME TAXES | 368,804 | 330,071 | 786,057 | 704,263 |
| PROVISION FOR INCOME TAXES | 95,555 | 86,271 | 194,235 | 171,699 |
| NET INCOME | $273,249 | $243,800 | $591,822 | $532,564 |
| EARNINGS PER SHARE | ||||
| Earnings per share, basic | $3.42 | $3.26 | $7.66 | $7.13 |
| Earnings per share, diluted | $3.40 | $3.23 | $7.61 | $7.05 |
| Weighted-average shares outstanding, basic | 79,984 | 74,725 | 77,307 | 74,644 |
| Weighted-average shares outstanding, diluted | 80,373 | 75,548 | 77,760 | 75,529 |
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