Charles Schwab beats by $0.04, reports revs in-line
- Reports Q2 (Jun) earnings of $0.75 per share, excluding non-recurring items, $0.04 better than the FactSet Consensus of $0.71; revenues fell 8.6% year/year to $4.66 bln vs the $4.61 bln FactSet Consensus.
- 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."
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