) Overview

U.S. financial services firm’s Q2 revenue rose 21% yr/yr, beating analyst expectations
Adjusted EPS for Q2 rose 42% yr/yr, beating analyst expectations
Company repurchased $1.0 bln in shares during the quarter Outlook
Company did not provide specific guidance for future quarters or the full year in its press release Result Drivers
CLIENT ASSET GROWTH - Schwab said record core net new assets and total client asset growth drove results, with $119.8 bln in core net new assets, up 49% yr/yr
CLIENT ENGAGEMENT - Record trading activity, increased use of managed investing solutions, and higher margin loan balances contributed to revenue growth, according to CEO Rick Wurster
DIVERSIFIED REVENUE - Growth in net interest revenue, asset management fees, and trading revenue supported overall revenue increase, per CFO Mike Verdeschi Company press release: Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $7.07 $6.89

Revenue bln bln (13

Analysts

)

Q2 Beat $1.62 $1.55

Adjusted (17

EPS Analysts

)

Q2 Net $2.80

Income bln

Q2 Net 3.00%

Interest

Margin

Analyst Coverage

The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 18 “strong buy” or “buy”, 3 “hold” and 1 “sell” or “strong sell”
The average consensus recommendation for the investment banking & brokerage services peer group is “buy”
Wall Street’s median 12-month price target for Charles Schwab Corp is $121.00, about 18% above its July 20 closing price of $102.54
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago Reuters Recommended Reads
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July 21 - MSCI Q2 revenue slightly beats; FY operating expense outlook lifted For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)