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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