Recap: Charles Schwab Q2 Earnings

Shares of Charles Schwab SCHW fell 3.3% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 18.18% year over year to $0.54, which beat the estimate of $0.52.

Revenue of $2,450,000,000 declined by 8.62% from the same period last year, which missed the estimate of $2,470,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Technicals

52-week high: $51.65

52-week low: $28.00

Price action over last quarter: Up 2.57%

Company Overview

Charles Schwab operates in the brokerage, banking, and asset-management businesses. The company runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website. It also operates a bank and a proprietary mutual fund business and offers services to independent investment advisors. The company is among the largest firms in the investment business, with over $4 trillion of client assets at the end of 2019. Nearly all of its revenue is from the United States.