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Charles Schwab Stock Plummets Amid Plans to Downsize and Falling Revenue

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Source: Investopedia
Charles Schwab Stock Plummets Amid Plans to Downsize and Falling Revenue
Photo: Investopedia
TL;DR

Charles Schwab's stock dropped nearly 9% after CEO Walt Bettinger announced plans to downsize the bank to maintain profitability, relying on off-balance sheet deals with partners. The company reported 985,000 new brokerage accounts in Q2, below expectations, and posted adjusted EPS of 73 cents on $4.69 billion in revenue, in line with forecasts.

Topics:businessfinance#banking#brokerage-accounts#charles-schwab#earnings-report#finance#stock-market
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  1. Charles Schwab Stock Sinks as CEO Says Bank Will Get 'Smaller'  Investopedia
  2. Charles Schwab Warns It Must Shrink to Protect Profits  Bloomberg
  3. Charles Schwab Stock Slides After Brokerage Reports Lower Bank Deposits, More Short-Term Funding  The Wall Street Journal
  4. 3 Reasons Tesla Stock Is Up Again Today  Barron's
  5. Charles Schwab Shocks Wall Street With Interest Revenue Falling 6%; Client Assets Hit $9.4 Trillion  Investor's Business Daily

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