Charles Schwab's stock surges after profit, revenue rise above expectations [MarketWatch]
Charles Schwab Corporation (The) (SCHW)
Last charles schwab corporation (the) earnings: 4/15 08:45 am
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Source: MarketWatch
Charles Schwab's stock surges after profit, revenue rise above expectations Shares of Charles Schwab Corp. SCHW, +3.26% surged 3% in premarket trading Tuesday, after the discount broker reported third-quarter earnings that beat expectations, amid a record increase in net new assets as the equity markets have shown "noteworthy durability." Net income rose to $951 million, or 70 cents a share, from $923 million, or 65 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 64 cents. Revenue increased 5% to $2.71 billion, above the FactSet consensus of $2.64 billion. Core net new assets totaled $56.6 billion, a third-quarter record. Trading revenue fell 2% to $172 million, as an increase in trading volumes was offset by a decline in average revenue per trade. The results come nearly two weeks after Schwab shook the discount broker industry by dropping commissions on U.S. stocks, ETF and options. The stock has shed 6.4% over the past three months
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- The Charles Schwab Co. (NYSE: SCHW) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $80.00 price target on the stock.MarketBeat
SCHW
Earnings
- 4/15/24 - Beat
SCHW
Sec Filings
- 4/19/24 - Form 144
- 4/18/24 - Form 4
- 4/18/24 - Form 4
- SCHW's page on the SEC website