Charles Schwab Corp. (SCHW) intends to expand its 24-hour trading accessibility to cover all stocks in major U.S. indexes alongside numerous exchange-traded funds (ETFs). These changes are set to begin in roughly two weeks. This was stated by James Kostulias, the company's head of trading services in a statement. SCHW's Rationale Behind This Move The move aims to cater to the rising interest in extended hours trading among retail investors. "About 90% of the customers we surveyed in our newest Traders Senti ...

Shares of brokerage powerhouse Charles Schwab (NYSE: SCHW ) were up more than 6% after the company reported better than expected earnings for its third fiscal quarter. The financial services company saw robust top line momentum and strong asset gathering capabilities through theAnalyst’s Disclosure: I/we have a beneficial long position in the shares of SCHW either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compens ...

Charles Schwab NYSE: SCHW had a solid quarter, outpacing expectations and issuing favorable guidance. Still, its stock price may only increase slightly because of the analyst and sell-side activity this year. Charles Schwab TodaySCHWCharles Schwab$71.96 +4.14 (+6.10%) 52-Week Range$48.66▼$79.49Dividend Yield1.39%P/E Ratio29.86Price Target$71.82Add to WatchlistThe analysts' response to the Q3 results is tepid. The number of lowered price targets outpaces the increased targets by a wide margin, narrowing to a ...

Exhibit 99.1 CORPORATION SCHWAB REPORTS THIRD QUARTER RESULTS Total Client Assets Increased 27% Year-Over-Year to a Record $9.92 Trillion Core Net New Assets Equaled $95.3 Billion, Year-To-Date Exceeds $250 Billion Quarterly Net Revenues Grew 5% Year-Over-Year to $4.8 Billion WESTLAKE, Texas, October 15, 2024 – The Charles Schwab Corporation reported net income for the third quarter totaling $1.4 billion, or $.71 diluted earnings per common share. Excluding $153 million of pre-tax transaction-related costs, ...

Better-than-expected earnings results drove the stock higher today.Shares of Charles Schwab (SCHW 6.90%), the brokerage powerhouse that recently surpassed Vanguard to become the largest brokerage firm by assets under management, were moving higher today after the company posted better-than-expected results in its third-quarter earnings report.As of 1:44 p.m. ET, the stock was up 6.8% on the news. Schwab shines in Q3Like the rest of its industry, Charles Schwab seemed to benefit from the ongoing bull market ...

Fall Business Update October 15, 2024 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements that refer to expectations, projections or other characterizations of future events or circumstances and are identified by words such as "believe," "expect," "will," "may," "should," "could," "estimate," "anticipate," "contin ...

Financial Data and Key Metrics Changes - Revenue increased by 5% year-over-year to $4.8 billion, with adjusted pre-tax income also up by a similar amount, resulting in an adjusted pre-tax margin of over 41% and adjusted EPS of $0.77 [28][29][38] - Year-to-date net new assets crossed over the trajectory of net new assets in 2023, with net new assets more than doubling from the third quarter of last year [11][27] - Margin balances grew over $1 billion to end at $73 billion, reflecting a 17% increase from the end of 2023 [9][27] Business Line Data and Key Metrics Changes - Managed investing or retail advisory flows reached a record of $15 billion during the third quarter, with year-to-date managed investing net flows up 65% compared to last year [9][16] - Former Ameritrade clients contributed positively to net new assets for two consecutive quarters, with 44% of Pledged Asset Line (PAL) balance growth coming from these clients [12][17][56] - Client engagement remained strong across various services, with trades up about 4% from the prior quarter [9][21] Market Data and Key Metrics Changes - The third quarter saw a solid trading environment, with equity markets reaching all-time highs and investor sentiment remaining bullish [8][27] - Client cash realignment activity continued to decelerate, enabling strong growth in overall client cash and transactional cash for the quarter, particularly in September [27][34] Company Strategy and Development Direction - The company is focused on four strategic areas: Scale & Efficiency, Win-Win Monetization, Client Segmentation, and Brilliant Basics, which are expected to drive long-term growth [14][21] - The integration of Ameritrade clients is progressing well, with a focus on enhancing client relationships and service offerings [12][56] - The company aims to maintain a low-cost position as a competitive advantage while continuing to invest in operations and infrastructure [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to historical growth levels, citing the normalization of client cash realignment activity and the reduction of supplemental funding [26][27] - The company anticipates full-year 2024 revenue to increase by 2% to 3% versus 2023, with adjusted expense growth expected to be approximately 2% [38][40] - Management highlighted the importance of client engagement and the positive momentum heading into 2025, despite uncertainties in the macroeconomic environment [39][40] Other Important Information - The company reduced high-cost supplemental funding at the banks by $9 billion, with supplemental funding balances down over 30% from peak levels in May 2023 [32][35] - The adjusted Tier 1 Leverage ratio expanded by over 70 basis points to 6.7%, approaching the operating objective of 6.75% to 7% [36] Q&A Session Summary Question: What drove the improvement in transactional sweep cash and deposits in September? - Management noted that organic growth of cash and variability in client activity contributed to the improvement, indicating a normalization of cash realignment activity [43][44] Question: Thoughts on the securities portfolio and potential restructuring? - Management stated that while restructuring is a topic of interest, it is not currently being pursued to avoid disrupting client relationships, focusing instead on paying down supplemental funding [46][47] Question: Clarification on mid-single-digit expense growth for 2025? - Management confirmed that the mid-single-digit expense growth expectation includes efficiencies realized in 2024 and aims to balance investments for sustainable growth [49][51] Question: Update on organic growth and Ameritrade client normalization? - Management indicated that Schwab-only clients are growing at a historical rate of 5% to 7%, while Ameritrade clients are expected to contribute positively to net new assets over time as they become familiar with the platform [53][55] Question: Comfort level for share repurchases in relation to supplemental borrowing? - Management emphasized the priority of paying down supplemental borrowings before considering share repurchases, with no specific level set for comfort [58][61] Question: Changes to funding strategy and funding arbitrage? - Management explained that diversifying funding sources is essential, with broker-dealer funding being an efficient source to meet client needs while achieving financial outcomes [64][66] Question: Expectations for NIM and long-term growth? - Management acknowledged that NIM is expected to be modestly below previous targets due to lower rate trajectories but anticipates continued expansion in 2025 [70][72] Question: Opportunities for expanding REA custody offerings? - Management highlighted the growth in the Advisor Services business and the potential for monetization through enhanced lending and asset management capabilities, while maintaining the current custody fee model [75][78]

Key TakeawaysCharles Schwab stock jumped to a three-month high after the financial services company reported third-quarter results above what analysts had expected.Revenue and profits rose year-over-year, while net interest income dropped slightly.The investment management firm also lifted its revenue projections for the full year. Charles Schwab (SCHW) shares soared Tuesday as the financial services company reported better third-quarter results than analysts had expected, and also lifted its projections fo ...

Charles Schwab’s (SCHW) third-quarter 2024 adjusted earnings of 77 cents per share beat the Zacks Consensus Estimate. The bottom line, however, remained stable year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Shares of the company rose 9.3% in pre-market trading on better-than-expected results.Results benefited from the solid performance of the asset management business, which drove revenues. The absence of fee waivers and solid brokerage account numbers acted as tailw ...

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