Charles Schwab $SCHW.US reported record core net new assets of $190.4 billion, up 38% year over year. Client assets totaled $13.33 trillion, up 15%.
Q3 net revenue was $7.171 billion, up 17%; GAAP net income was $2.906 billion, up 23%; and GAAP diluted EPS was $1.62, up 29%. Adjusted EPS was $1.69, up 29%.
Money is pouring in. DARTs reached 10.7 million, up 44%, while trading revenue was $1.158 billion, up just 16% and down 5% sequentially. Trade volume and revenue don’t move in a fixed proportion.
Revenue is spread across several sources: net interest revenue was $3.476 billion, up 14%; asset management and administration fees were $1.913 billion, up 14%; and deposit account fees were $345 million, up 40%.
The GAAP pretax margin was 52.7% (versus 49.2% last year), while GAAP expenses excluding interest rose just 9%. Net interest margin was 3.04%, widening sequentially. The company repurchased about $500 million in shares, and diluted shares outstanding fell 4% year over year—so lower share count helped EPS grow faster than net income.
I’m more focused on two things: whether new assets can continue flowing into fee-based services, and whether the net interest margin can hold up.
The above is a summary of public information and does not constitute investment advice.
#嘉信理财 #BStocks #券商股
Q3 net revenue was $7.171 billion, up 17%; GAAP net income was $2.906 billion, up 23%; and GAAP diluted EPS was $1.62, up 29%. Adjusted EPS was $1.69, up 29%.
Money is pouring in. DARTs reached 10.7 million, up 44%, while trading revenue was $1.158 billion, up just 16% and down 5% sequentially. Trade volume and revenue don’t move in a fixed proportion.
Revenue is spread across several sources: net interest revenue was $3.476 billion, up 14%; asset management and administration fees were $1.913 billion, up 14%; and deposit account fees were $345 million, up 40%.
The GAAP pretax margin was 52.7% (versus 49.2% last year), while GAAP expenses excluding interest rose just 9%. Net interest margin was 3.04%, widening sequentially. The company repurchased about $500 million in shares, and diluted shares outstanding fell 4% year over year—so lower share count helped EPS grow faster than net income.
I’m more focused on two things: whether new assets can continue flowing into fee-based services, and whether the net interest margin can hold up.
The above is a summary of public information and does not constitute investment advice.
#嘉信理财 #BStocks #券商股