$SCHW (-0,05 %) exceeded consensus estimates for both profit and turnover in the second quarter.
- Adjusted earnings per share1.14 USD (expectation: 1.09 USD)
- Sales: record USD 5.85 billion (expectation: USD 5.7 billion)
Sales increased compared to the previous year by 25 %driven by strong growth in customer assets and improved interest margins.
The new net assets amounted to USD 80.3 billionan increase of 31 % year-on-year.
The total assets of customers reached 10.76 trillion USD a new high, an increase of 14 % compared to the previous year. Over 1 million new brokerage accounts were opened, which represents an increase of 11 % increase.
The cash balances from customer transactions amounted to USD 412.1 billiona sequential increase of USD 4.3 billion.
"Schwab delivered growth at all levels in the second quarter," said President and CEO Rick Wurster. "Our diversified business model and world-class scale and efficiency drove record sales and earnings per share."
📊 Further highlights:
- Net interest margin increased by 12 basis points to 2,65 %
- Bank financing was increased by USD 10.4 billion to USD 27.7 billion reduced
- Capital repaymentUSD 2.8 billion, including the repurchase of USD 351 million in ordinary shares
- Daily trading volume7.6 million (increase of 38% compared to Q2 2024)
- Management feesUSD 1.6 bn (+14% YoY)
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