$SCHW (+0.54%) | Charles Schwab Q3'24 Earnings Highlights:

🔹 Adjusted EPS: $0.77 (Est. $0.75) 🟢

🔹 Net Revenue: $4.85B (Est. $4.78B) 🟢; UP +5% YoY

🔹 Net Interest Revenue: $2.22B (Est. $2.2B) 🟢

Client Metrics:

🔹 Total Client Assets: $9.92T (Est. $9.75T) 🟢; UP +27% YoY

🔹 Total Net New Assets: $90.8B

🔹 New Brokerage Accounts: 972,000 (Est. 1.02M) 😕

🔹 Total Active Brokerage Accounts: 35.98M (Est. 35.88M) 🟢

🔹 Daily Average Trades: 5.70M (Est. 5.71M) 😕

🔹 Revenue Per Trade: $2.20 (Est. $2.24) 😕

Operational Metrics:

🔹 Asset Management and Administration Fees: $1.48B (Est. $1.44B) 🟢

🔹 Trading Revenue: $797M (Est. $814.9M) 🔴

🔹 Bank Deposit Account Fees: $152M (Est. $144.2M) 🟢

Balance Sheet Metrics:

🔹 Bank Deposits: $246.5B (Est. $244.88B) 🟢

CEO Walt Bettinger's Commentary:

🔸 "Our momentum with clients continues to build following the successful completion of the Ameritrade conversion earlier this year. Third quarter net asset gathering of over $95 billion pushed year-to-date core net new assets to $252 billion – up 10% versus 2023 year-to-date."

🔸 "Record year-to-date flows into Schwab Wealth Advisory™ helped Managed Investing net flows reach $40 billion – an increase of 65% versus 2023 year-to-date. Converted Retail Ameritrade client interest in wealth solutions remains robust, accounting for approximately 35% of these flows."