Reports Q2 revenue $4.66B, consensus $4.61B. Total client assets exceeded $8T. Co-chairman and CEO Walt Bettinger noted, “Schwab’s modern approach to wealth management continues to resonate with investors, helping to sustain our strong client momentum. During the second quarter, we gathered $52 billion in core net new assets – bringing year-to-date asset gathering to over $180 billion and keeping us squarely within our long-term organic growth range of 5% – 7%. While we observed signs of typical tax seasonality, as well as softer investor sentiment at the beginning of the quarter, we still attracted nearly 1 million new brokerage accounts and finished the period serving $8.02 trillion in total client assets across 34 million accounts.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SCHW:
- Charles Schwab Stock (NYSE:SCHW): A Relief Rally is Underway
- Charles Schwab (NYSE: SCHW) Gains after Better-than-Expected Q2 Results
- Notable companies reporting before tomorrow’s open
- Bank Earnings Q2: Here’s What Analysts Expect This Week
- SCHW Earnings Report this Week: Is It a Buy, Ahead of Earnings?