Schwab (SCHW) Q1 Revenues to Rise, February Client Assets Soar

Charles Schwab (SCHW) released its monthly activity report for February 2024 and provided revenue guidance for the first quarter of 2024.Management projects the ongoing quarter’s revenues to grow in the range of 5-6% on a sequential basis. This is to be driven by “rising equity markets and stronger client trading activity.” Further, as the full impact of last year’s incremental expense savings is realized, the adjusted pre-tax margin is expected to expand almost “four percentage points.”In February, Schwab’ ...