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Charles Schwab Shares Jump Over 8% on Q3 Earnings Beat
Oct 15, 2024 7:12 PM - Davit Kirakosyan(Last modified: Oct 16, 2024 1:05 AM)
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Charles Schwab (NYSE:SCHW) reported third-quarter earnings that surpassed analyst forecasts, pushing its stock up over 8% intra-day today. The company posted adjusted earnings per share of $0.77, exceeding the $0.75 estimate, while revenue reached $4.85 billion, above the expected $4.77 billion.
The financial services provider saw robust asset growth, reporting $90.8 billion in total net new assets and an impressive 27% year-over-year increase in total client assets to a record $9.92 trillion, surpassing projections of $9.75 trillion. CEO Walt Bettinger highlighted Schwab's ongoing momentum, which has accelerated since the successful Ameritrade integration earlier in the year.
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