Categories AlphaGraphs, Earnings, Finance
Charles Schwab (SCHW) reports lower earnings and revenues for Q2
Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Tuesday reported a decrease in adjusted earnings and revenues for the second quarter of 2023.
Total revenues decreased 9% year-over-year to $4.66 billion in the second quarter. During the quarter, the company gathered $52 billion in core net new assets – bringing year-to-date asset gathering to over $180 billion.
Net profit, on an adjusted basis, declined to $0.75 per share in the three-month period from $0.97 per share in the comparable quarter of last year. Unadjusted net income was $1.17 billion or $0.64 per share, compared to $1.65 billion or $0.87 per share in the year-ago quarter.
“While we observed signs of typical tax seasonality, as well as softer investor sentiment at the beginning of the quarter, we still attracted nearly 1 million new brokerage accounts and finished the period serving $8.02 trillion in total client assets across 34 million accounts,” said Walt Bettinger, CEO of Charles Schwab.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
_________________________________________________________________________________________________________________
Most Popular
Starbucks (SBUX): A look at the challenges that continue to beleaguer the coffee giant
Shares of Starbucks Corporation (NASDAQ: SBUX) rose 2% on Thursday. The stock has dropped 9% over the past month. The company has faced its fair share of challenges during fiscal
Broadcom (AVGO) thrives on growing AI business. Is the stock a buy?
Broadcom, Inc. (NASDAQ: AVGO), a leading provider of semiconductor solutions for wired and wireless communications, recently impressed the market with upbeat financial outlook highlighting strong prospects for its AI business
After a weak first half, will NIKE (NKE) hit the recovery path this year?
After a prolonged slowdown, NIKE, Inc. (NYSE: NKE) is working on a turnaround plan to regain the brand’s strength. In recent years, the sneaker giant’s overall performance has not been
