Charles Schwab reported third-quarter earnings that surpassed expectations, driven by a significant increase in net new assets totaling $134.4 billion. The financial services firm also saw a 30% rise in daily average revenue trades, reaching $7.42 trillion. This growth was fueled by strong retail engagement and the addition of over 1 million new brokerage accounts, resulting in record revenue and profitability.
In addition to its financial performance, Charles Schwab repurchased 28.9 million shares valued at $2.7 billion and announced plans to expand its physical branch network. These strategic moves underscore the company's commitment to enhancing shareholder value and broadening its market presence.
Charles Schwab Q3 Earnings Exceed Expectations with $134.4B in New Assets
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