Charles Schwab Adds Most Accounts in Quarter in Past 18 Years -- Earnings Review

Date : 16/04/2018 @ 23:54
Source : Dow Jones News
Stock : Charles Schwab Corp. (The) (SCHW)
Quote : 41.43  0.0 (0.00%) @ 00:07
Charles Schwab Corp. (The) share price Chart

Charles Schwab Adds Most Accounts in Quarter in Past 18 Years -- Earnings Review

Charles Schwab Corp. (The) (NYSE:SCHW)
Historical Stock Chart

1 Year : From Dec 2017 to Dec 2018

Click Here for more Charles Schwab Corp. (The) Charts.
   By Allison Prang 

Charles Schwab Corp. (SCHW) released its financial results for its first quarter before the market opened Monday. Here's what you need to know.


PROFIT: The company made $783 million, or 55 cents a share, up 39% from the $564 million, or 39 cents a share, it made in the same quarter a year ago. Analysts were expecting earnings of 54 cents a share.


REVENUE: Total net revenue increased 15% to $2.4 billion. Analysts were expecting revenue of $2.38 billion. Net interest revenue rose 26% to $1.26 billion. The company's net interest margin rose to 2.12% from 1.87% the same time a year ago.


EXPENSES: Expenses, excluding interest, rose 13% to $1.4 billion.


COMMENTARY: Chief Executive Walt Bettinger said in prepared remarks that the company had 443,000 new accounts, the most it has accumulated in a quarter in the last 18 years. The company had $3.31 trillion in client assets at quarter's end, an increase of 13% from a year ago, he said.

Shares rose 1.9% premarket and have risen 36% in the past year. Year to date, they've fallen 0.6%.


Write to Allison Prang at


(END) Dow Jones Newswires

April 16, 2018 09:39 ET (13:39 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Your Recent History
Euro vs Au..
US Dollar ..
BHP Bilito..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:au D:20181214 13:36:51