The Charles Schwab Corporation (NYSE:SCHW) shares are trading higher after the company reported third-quarter results.
Revenue rose 5% to $4.85 billion, beating the consensus of $4.78 billion. Net interest revenue declined 1% Y/Y to $2.222 billion in the third quarter. Clients’ daily average trades totaled 5.697 million, up 9% Y/Y.
Asset management and administration fees rose 21% Y/Y to $1.48 billion. Adjusted net income remained flat Y/Y at $1.52 billion. Adjusted EPS was stable Y/Y at $0.77, beating the consensus of $0.75.
The bank had $246.5 billion in deposits at the end of the third ...
