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The Key Takeaways
- Charles Schwab shares rose Tuesday after the financial services firm's earnings for the fourth quarter topped estimates.
- The revenue and profits grew compared with the same quarter last year, as asset management charges set a new quarterly record.
- Trading activity also rose, as the company said "client engagement surged" after the election.
Charles Schwab’s (SCHW), a financial services firm, beat analyst expectations with its fourth quarter results. Trading activity increased and asset management fee set a record quarterly.
Visible Alpha’s estimates show that Visible reported $1.84bn in profit, up from last quarter’s $1.05bn and analysts’ expectations of $1.68bn. Charles Schwab’s revenue was $5.33billion, up by 20% from the previous year. This is better than what analysts expected ($5.21billion).
Schwab Says Trading Activity 'Surged' Post-Election
This asset manager reported a net interest income of 2,53 billion dollars, which is higher than analysts expected. Schwab also reported that trading volume increased by 11% from the third quarter. “as client engagement surged following the election.”
Charles Schwab announced that its asset management fees and administration costs reached a record quarterly amount of $1.5 billion. Trading revenue also increased 14% over the same period last year due to an increase in trading volume.
In the fourth quarter of last year, the company stated that it was expecting to be in 2025. “good momentum” The company’s third-quarter earnings also exceeded expectations.
Charles Schwab stock was up over 6.3% in early Tuesday morning trading, and is up by more than 25% since the beginning of last year.
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