Key TakeawaysThe S&P 500 added 0.6% on Tuesday, July 16, 2024, amid stronger-than-expected retail sales data and greater certainty the Federal Reserve will lower interest rates in September.Shares of health insurers moved higher after UnitedHealth Group posted better-than-expected second-quarter profits.Charles Schwab shares plunged after the financial services firm warned it would be downsizing its bank to maintain profitability. Major U.S. equities traded higher after several companies posted strong earni ...

Exhibit 99.1 SCHWAB REPORTS SECOND QUARTER RESULTS Total Client Assets Reached A Record $9.4 Trillion, Up 17% Year-Over-Year Core Net New Assets Rose 17% to $61.2 Billion, Highlighting Continued Momentum WESTLAKE, Texas, July 16, 2024 – The Charles Schwab Corporation reported net income for the second quarter totaling $1.3 billion, or $.66 diluted earnings per common share. Excluding $175 million of pre-tax transaction-related and restructuring costs, adjusted net income and diluted common earnings per shar ...

JHVEPhoto/iStock Editorial via Getty Images Charles Schwab overview July 16th ended up being a rather unpleasant day for shareholders of The Charles Schwab Corporation (NYSE:SCHW). I say this because, after the market opened, shares of the company plunged nearly 9%. This came about even though management exceeded analysts’ earnings forecasts when it came to second quarter earnings data that was released leading up to that point. The headline news was that this pain was driven by management's decision to ...

The Charles Schwab Corporation (SCHW) reported $4.69 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.7%. EPS of $0.73 for the same period compares to $0.75 a year ago.The reported revenue represents a surprise of -0.02% over the Zacks Consensus Estimate of $4.69 billion. With the consensus EPS estimate being $0.73, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Schwab says it wants to get smaller. Its stock price is already doing just that.Shares of online stockbroker The Charles Schwab Corporation (SCHW -9.03%) tumbled 8.8% through 12:55 p.m. EDT Tuesday despite beating analyst forecasts for the second quarter on both the top and bottom lines.Heading into the quarter, analysts expected Schwab to report a $0.72 per-share profit on sales of $4.68 billion. In fact, Schwab earned $0.73 on sales of $4.69 billion -- and with a bigger net-interest margin of 2.03%.Charle ...

JHVEPhoto Shares of Charles Schwab (NYSE:SCHW) fell 6% on Tuesday after reporting disappointing earnings, as the company continues to struggle with declining client cash utilization. While shares are still up about 20% from a year ago, the longer-term performance has been disappointing. Shares are actually still lower than when I last covered the company in October 2022, mistakenly rating shares a buy, as the regional banking crisis of 2023 damaged its business model, dependent on low-cost deposits. Wit ...

Key TakeawaysCharles Schwab intends to shrink by relying on off-balance sheet deals with partners, CEO Walt Bettinger said in the financial services firm's second-quarter earnings call Tuesday.The company reported 985,000 new brokerage accounts in the second quarter, below expectation.Schwab posted adjusted earnings per share (EPS) of 73 cents on revenue of $4.69 billion, essentially in line with analysts' expectations. Charles Schwab (SCHW) shares tumbled in intraday trading Tuesday after Chief Executive O ...

The Charles Schwab Corporation (NYSE:SCHW) Q2 2024 Results Conference Call July 16, 2024 8:30 AM ET Company Participants Jeff Edwards - Head of Investor Relations Walt Bettinger - Co-Chairman and Chief Executive Officer Rick Wurster - President Peter Crawford - Chief Financial Officer Conference Call Participants Brian Bedell - Deutsche Bank Ken Worthington - JPMorgan Kyle Voigt - KBW Dan Fannon - Jefferies Steven Chubak - Wolfe Research Brennan Hawken - UBS Benjamin Budish - Barclays Alex Blostein - Goldma ...

Facade of Charles Schwab office with visible logo and electronic time and temperature display, ... [+] Rincon Hill, South of Market, San Francisco, California, June 7, 2024. (Photo by Smith Collection/Gado/Getty Images)Gado via Getty ImagesCharles Schwab (NYSE: SCHW) stock gained 10% YTD, as compared to an 18% rise in the S&P500 index. In sharp contrast, Charles Schwab’s peer BlackRock (NYSE: BLK) is up only 3% YTD. Overall, SCHW is scheduled to report its fiscal Q2 2024 results on Tuesday, July 16, 2024. W ...

Charles Schwab (SCHW) is scheduled to report second-quarter 2024 results on Jul 16, before market open. While the company’s earnings are expected to have declined in the quarter on a year-over-year basis, revenues are anticipated to have improved.In the first quarter of 2024, Schwab’s earnings beat the Zacks Consensus Estimate. Results benefited from the solid performance of the asset management business. The absence of fee waivers and solid brokerage account numbers acted as tailwinds. However, lower reven ...