SCHW Stock Recent News

Schwab's quarter was a slight beat, with revenue down year over year. Management is upbeat about the quarters to come thanks to strong growth in retail accounts.

Shares of Charles Schwab (SCHW) rose 4% in early trading Monday after the discount brokerage and financial advisory firm reported better-than-expected results because of “an improved macroeconomic environment.”

The Charles Schwab Company NYSE: SCHW can hit new highs, not just a new weekly or monthly high but a new multi-year high with the potential for a new all-time high. The last year was challenging for the business and investors with the banking crisis, shaken investor sentiment, and tightened fiscal policy to impact results.

Although the revenue and EPS for Charles Schwab (SCHW) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

The Charles Schwab Corporation (SCHW) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.93 per share a year ago.

Robust asset management performance and a rise in brokerage accounts support Schwab's (SCHW) Q1 earnings amid higher rates that hurt revenues.

Charles Schwab Corp (NYSE:SCHW) earnings and revenues hit their mark for the first quarter as the investment platform provider welcomed growing amounts of new client assets as the macroeconomic backdrop improved. Net revenues in the quarter totalled $4.7 billion, down 7% on the same period a year earlier but 6% higher than the $4.46 billion in the fourth quarter of last year and in line with Wall Street forecasts.

Shares of Charles Schwab Corp. SCHW, -0.84% gained 0.3% in premarket trading Monday, after the financial services and brokerage company reported first-quarter profit and revenue that fell, but just topped expectations, amid strength in its asset management business. Net income declined to $1.36 billion, or 68 cents a share, from $1.60 billion, or 83 cents a share, in the same period a year ago.

Charles Schwab Corp (NYSE:SCHW) is set to report a year-over-year drop in first quarter revenues driven by higher funding costs and lower market volatility.   The financial services firm is expected to report a 7.8% decrease in revenue to $4.72 billion when it posts its Q1 earnings on Monday, April 15 before the market opens.

Schwab's (SCHW) trading performance is expected to have been weak in the first quarter of 2024 because of lower volatility.