$SCHW (+0,7ย %) | Charles Schwab Q3'24 Earnings Highlights:
๐น Adjusted EPS: $0.77 (Est. $0.75) ๐ข
๐น Net Revenue: $4.85B (Est. $4.78B) ๐ข; UP +5% YoY
๐น Net Interest Revenue: $2.22B (Est. $2.2B) ๐ข
Client Metrics:
๐น Total Client Assets: $9.92T (Est. $9.75T) ๐ข; UP +27% YoY
๐น Total Net New Assets: $90.8B
๐น New Brokerage Accounts: 972,000 (Est. 1.02M) ๐
๐น Total Active Brokerage Accounts: 35.98M (Est. 35.88M) ๐ข
๐น Daily Average Trades: 5.70M (Est. 5.71M) ๐
๐น Revenue Per Trade: $2.20 (Est. $2.24) ๐
Operational Metrics:
๐น Asset Management and Administration Fees: $1.48B (Est. $1.44B) ๐ข
๐น Trading Revenue: $797M (Est. $814.9M) ๐ด
๐น Bank Deposit Account Fees: $152M (Est. $144.2M) ๐ข
Balance Sheet Metrics:
๐น Bank Deposits: $246.5B (Est. $244.88B) ๐ข
CEO Walt Bettinger's Commentary:
๐ธ "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 โ up 10% versus 2023 year-to-date."
๐ธ "Record year-to-date flows into Schwab Wealth Advisoryโข helped Managed Investing net flows reach $40 billion โ 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."