Charles Schwab's Earnings Beat Estimates, but Revenue and Deposits Decline
TL;DR
Charles Schwab reported better-than-expected adjusted third-quarter earnings of 77 cents per share, surpassing analysts' forecast of 74 cents. However, the brokerage giant's earnings were significantly lower compared to the same period last year, with revenue falling 16% year over year to $4.6 billion and adjusted net income dropping 31% to $1.5 billion. Additionally, bank deposits at Charles Schwab continued to decline.
- Charles Schwab Earnings Beat Estimates, but Bank Deposits Fall Again Barron's
- Charles Schwab Non-GAAP EPS of $0.77 beats by $0.03, revenue of $4.61B in-line (NYSE:SCHW) Seeking Alpha
- Charles Schwab stock drops after revenue falls a bit shy of expectations, amid trading weakness MarketWatch
- Charles Schwab (SCHW) Earnings: Net Interest Revenue, Deposits Drop Bloomberg
- Schwab Stock Slips On Lower Profit, Revenue The Wall Street Journal
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on Barron's