Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Tuesday reported higher earnings and revenues for the fourth quarter of 2021. However, the numbers missed Wall Street’s forecast, and the company’s stock dropped in the premarket session soon after the announcement.
Total revenues increased 13% year-over-year to $4.71 billion in the final three months of fiscal 2021. However, the number missed Wall Street’s estimates.
Net profit, on an adjusted basis, rose to $0.86 per share during the quarter from $0.74 per share in the same period of last year but came in below the consensus forecast. Unadjusted net income was $1.58 billion or $0.76 per share, compared to $1.14 billion or $0.57 per share last year.
Charles Schwab’s stock has gained about 35% in the past six months and reached a record high this month. It dropped sharply Tuesday morning following the earnings release, after closing the last session higher.
Stocks you may like:
The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a
Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss