Charles Schwab's 2Q Results Come In Ahead of Expectations
16 July 2019 - 11:41PM
Dow Jones News
By Dave Sebastian
Charles Schwab Corp. (SCHW) posted higher second-quarter
earnings as revenue rose.
The company's profit in the second quarter rose 8% to $937
million, or 66 cents a share, from $866 million, or 60 cents a
share, in the prior year. Analysts polled by FactSet had expected
earnings of 65 cents a share.
Total quarterly net revenue rose 8% to $2.68 billion from $2.49
billion a year earlier. Analysts had expected $2.67 billion.
Total expenses excluding interest were $1.45 billion, up 7% from
$1.36 billion in the same period last year.
Charles Schwab is in talks to buy brokerage and
wealth-management operations from USAA for roughly $2 billion, a
move that would push the discount-trading pioneer further into the
coveted business of financial advice, The Wall Street Journal
reported.
The deal, which could bring Schwab roughly $100 billion of
assets from closely held USAA, may be reached this month, people
familiar with the matter told The Wall Street Journal.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 16, 2019 09:26 ET (13:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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