Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Tuesday reported double-digit growth in revenues and adjusted profit for the fourth quarter of 2024.
Total revenues increased 20% year-over-year to $5.33 billion in the December quarter. The topline benefitted from strong client engagement, increased margin utilization, and positive client cash trends.
Net income available to common stockholders was $1.72 billion or $0.94 per share in Q4, compared to $926 million or $0.51 per share in the prior-year quarter. Adjusted profit climbed 49% year-over-year to $1.01 per share during the three months.