Charles Schwab Tops Estimates With 11.9 Million Daily Trades as Q2 Trading Revenue Hits $1.2 Billion
Updated
Updated · Bloomberg · Jul 21
Charles Schwab Tops Estimates With 11.9 Million Daily Trades as Q2 Trading Revenue Hits $1.2 Billion
3 articles · Updated · Bloomberg · Jul 21
Summary
$1.62 in adjusted Q2 EPS beat the $1.55 consensus as Charles Schwab rode a record 11.9 million daily average revenue trades.
Retail investors' rapid buying and selling during geopolitically driven market volatility lifted trading revenue 28% from a year earlier to $1.2 billion.
Schwab shares still fell 1.6% in premarket trading after the release, with investors focusing on expenses that rose more than expected.
The results underscore how market turbulence is boosting brokerage activity, even as higher costs temper enthusiasm for earnings beats.