2MonΒ·

$SCHW (-0.04%) | Charles Schwab Q3'24 Earnings Highlights:


πŸ”Ή Adjusted EPS: $0.77 (Est. $0.75) 🟒

πŸ”Ή Net Revenue: $4.85B (Est. $4.78B) 🟒; UP +5% YoY

πŸ”Ή Net Interest Revenue: $2.22B (Est. $2.2B) 🟒


Client Metrics:

πŸ”Ή Total Client Assets: $9.92T (Est. $9.75T) 🟒; UP +27% YoY

πŸ”Ή Total Net New Assets: $90.8B

πŸ”Ή New Brokerage Accounts: 972,000 (Est. 1.02M) πŸ˜•

πŸ”Ή Total Active Brokerage Accounts: 35.98M (Est. 35.88M) 🟒

πŸ”Ή Daily Average Trades: 5.70M (Est. 5.71M) πŸ˜•

πŸ”Ή Revenue Per Trade: $2.20 (Est. $2.24) πŸ˜•


Operational Metrics:

πŸ”Ή Asset Management and Administration Fees: $1.48B (Est. $1.44B) 🟒

πŸ”Ή Trading Revenue: $797M (Est. $814.9M) πŸ”΄

πŸ”Ή Bank Deposit Account Fees: $152M (Est. $144.2M) 🟒


Balance Sheet Metrics:

πŸ”Ή Bank Deposits: $246.5B (Est. $244.88B) 🟒


CEO Walt Bettinger's Commentary:

πŸ”Έ "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."


πŸ”Έ "Record year-to-date flows into Schwab Wealth Advisoryβ„’ 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."

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