Charles Schwab (NYSE: SCHW) reported a year-over-year drop in earnings and revenue for the second quarter of 2020. Adjusted EPS of $0.54 and GAAP EPS of $0.48, declined 21% and 19%, respectively. Revenue dropped 9% to $2.45 billion in the second quarter. Shares of Charles Schwab were down about 3% in the pre-market trading session.
“Throughout the second quarter, the COVID-19 pandemic and its effects continued to dominate the macroeconomic environment, presenting myriad challenges for our clients and Schwab alike,” said CEO Walt Bettinger.
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