Charles Schwab (SCHW) Misses Q1 EPS by 5c

Charles Schwab (NYSE: SCHW) reported Q1 EPS of $0.58, $0.05 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $2.62 billion versus the consensus estimate of $2.63 billion.

• The company’s financial results for the first quarter include acquisition-related expenses described below, as well as expenses totaling approximately $27 million, or $.02 per share, relating to certain actions taken in response to the COVID-19 pandemic.
• Strong Client Activity During Volatile Market Included $73.2 Billion in Core Net New Assets, 609,000 New Brokerage Accounts and 1.5 Million Daily Average Trades, All Records

For earnings history and earnings-related data on Charles Schwab (SCHW) click here.

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