Market Overview

Charles Schwab Ticks Higher On Q2 Earnings Beat


Charles Schwab (NYSE: SCHW) reported second-quarter earnings of 66 cents per share, which comes in line with analyst estimates. Sales of $2.681 billion beat the $2.67 billion estimate.

"Thus far in 2019, a challenging mix of geopolitical, economic, and market dynamics has persisted, with investors facing unresolved trade negotiations, the Brexit debate and signals that the Fed may be moving towards a reversal in rate policy, all while U.S. equity markets have rallied to record territory," said CEO Walt Bettinger.

"Amidst this backdrop, we drove sustained business momentum. Clients opened nearly 400,000 new brokerage accounts during the second quarter, bringing year-to-date new accounts to 772,000, helping push active accounts to the 12 million mark by quarter-end, up 7% year-over-year."

The stock traded higher by 0.97% to $40.69 in Tuesday's pre-market session.

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Posted-In: Earnings News


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