Charles Schwab (NYSE:SCHW) reported third-quarter earnings that surpassed analyst forecasts, pushing its stock up over 8% intra-day today. The company posted adjusted earnings per share of $0.77, exceeding the $0.75 estimate, while revenue reached $4.85 billion, above the expected $4.77 billion. The financial services provider saw robust asset growth, reporting $90.8 billion in total net new assets and an impressive 27% year-over-year increase in total client assets to a record $9.92 trillion, surpassing projections of $9.75 trillion. CEO Walt Bettinger highlighted Schwab's ongoing momentum, which has accelerated since the successful Ameritrade integration earlier in the year.
T he Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights;