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Charles Schwab's Earnings Narrowly Beat Forecast Charles Schwab's (SCHW) first quarter financial results narrowly beat the consensus forecast of Wall Street analysts.
The financial services company reported earnings per share (EPS) of $0.74 U.S., topping analyst estimates by one penny.
Revenue for the January through March quarter amounted to $4.70 billion U.S., which matched Wall Street's expectations. Sales declined 7.3% from the same period a year ago.
Charles Schwab reported that its client assets reached a record $9.1 trillion U.S. in the most recent quarter, up 20% from a year earlier.
The Texas-based company has struggled over the past year as deposit outflows accelerated amid a flight to high-yielding bonds.
The latest results suggest that Charles Schwab might now be on the rebound as assets once again grow.
The company reported net new assets of $88.20 billion U.S. for the first quarter, its highest amount since the first quarter of 2023 when the company brought in $150.70 billion U.S.
Charles Schwab also reported that its total supplemental funding decreased by $8.80 billion U.S. in Q1, ending the period at $70.80 billion U.S.
The stock of Charles Schwab has risen 32% over the last 12 months and currently trades at $70.03 U.S. per share.
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