The Charles Schwab Corporation (NYSE: SCHW) reported fourth-quarter 2020 earnings results today.
Net revenues year-over-year increased to $4.17 billion from $2.6 billion with a change of 60%. Analyst’s estimated total revenue of $4.11 billion.
GAAP net income increased to $1.13 billion from $852 million while EPS decreased to $0.57 from $0.62 per share. Adjusted net income to $1.45 billion while EPS increased 17% to $0.74 per share.
CEO Walt Bettinger said, “The pandemic’s rapid escalation in early 2020 was accompanied by volatile equity markets and further easing of monetary policy. As the year progressed, government aid packages and vaccine developments helped settle the markets”.
The company reported a stock movement of positive 1% on Tuesday morning at a pre-market session, at $58.65.
