Charles Schwab shares rise on solid Q3 print

Investing.comOct 15, 2024 12:53 PM

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Charles Schwab (NYSE:SCHW) posted earnings and revenue for the fiscal Q3 above analyst expectations, sending its shares rising more than 7% in premarket trading Tuesday.

The financial services firm reported adjusted earnings per share (EPS) of $0.77, topping the average analyst estimate of $0.75.

Quarterly revenue hit $4.85 billion, also higher than the consensus estimate of $4.77 billion.

Total net new assets were reported at $90.8 billion, while total client assets jumped 27% year-over-year to a record $9.92 trillion, ahead of the estimated $9.75 trillion.

"Our momentum with clients continues to build following the successful completion of the Ameritrade conversion earlier this year," said Walt Bettinger, co-chairman and CEO of Charles Schwab.

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