Schwab 3Q Earnings, Revenue Grow as Assets Rise
October 15 2021 - 9:36AM
Dow Jones News
By Matt Grossman
Charles Schwab Corp. Friday posted greater earnings and revenue
year over year in latest quarter, as client assets grew.
Earnings rose to 74 cents a share from 48 cents a share a year
earlier. Net income was $1.53 billion, up from $698 million in the
same period last year.
Stripping out one-time items, Schwab's adjusted earnings were 84
cents a share. Analysts forecast adjusted earnings of 81 cents a
share.
Revenue climbed to $4.57 billion from $2.45 billion last year.
Analysts had projected revenue of $4.52 billion.
Schwab said it generated core net new assets of $139 billion in
the quarter, finishing the three-month period with total client
assets of $7.61 trillion.
Schwab-managed exchange-traded funds reached $251.6 billion in
assets, a 49% year-over-year rise.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 15, 2021 09:21 ET (13:21 GMT)
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