Charles Schwab Slightly Higher After Q3 Earnings Results
Brokerage and investment management company Charles Schwab (NASDAQ: SCHW) released its third quarter earnings results prior to the opening bell on Monday.
The company's earnings per share were above Wall Street expectations while revenues were in line. During Monday's trading session, the stock was lower in the morning, but has subsequently turned positive. At last check, SCHW was up around 0.30 percent to $12.98.
CEO and President Walt Bettinger stated, "The company's third quarter metrics were solid, including 198,000 new brokerage accounts, $2.8 billion in net new enrollments in our retail advisory offerings, and $21.7 billion in core net new assets."
Net income in the period was $238 million or $0.19 per share, compared to $220 million or $0.18 per share, in the year ago period. This compared to Wall Street earnings per share estimates of $0.17.
Net revenues rose around one percent to $1.2 billion, which was in-line with analysts' estimates. Year-to-date, the stock has now risen a little more than 15 percent.
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