Charles Schwab (SCHW) Surges Over 8% in Pre-Market After Beating Q3 Estimates

Oct 15, 2024

Charles Schwab (SCHW, Financial) saw its stock rise over 8% in pre-market trading after reporting financial results for the third quarter that exceeded market expectations. The company's net revenue for the quarter reached $4.85 billion, surpassing the anticipated $4.78 billion.

The adjusted earnings per share were $0.77, beating the estimated $0.75. Additionally, Schwab's bank deposits totaled $246.5 billion for the quarter, slightly above the $244.88 billion expectation. Net interest income came in at $2.22 billion, compared to the forecasted $2.20 billion.

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