Charles Schwab Q3 Shines: Client Assets Reach $9.92T, Revenue Hits $4.85B, Debt Reduction & More
Portfolio Pulse from Lekha Gupta
Charles Schwab reported strong Q3 results with revenue of $4.85 billion, surpassing expectations. Client assets reached a record $9.92 trillion. Despite a decline in deposits, the company saw a significant increase in asset management fees and brokerage accounts. CEO Walt Bettinger announced his retirement, with Rick Wurster set to succeed him in 2025. SCHW shares rose 8.76% premarket.
October 15, 2024 | 1:12 pm
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POSITIVE IMPACT
Investors can gain exposure to Charles Schwab's positive Q3 results through the IShares U.S. Broker-Dealers & Securities Exchanges ETF.
IAI includes Charles Schwab, whose strong Q3 results could positively influence the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Charles Schwab's Q3 results exceeded expectations with revenue of $4.85 billion and record client assets of $9.92 trillion. The company's shares rose 8.76% premarket.
The strong Q3 results, including revenue beating expectations and record client assets, positively impacted SCHW's stock price, leading to an 8.76% increase premarket.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Tidal ETF Trust God Bless America ETF offers exposure to Charles Schwab's positive Q3 performance.
YALL includes Charles Schwab, and its strong Q3 results could positively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50