Charles Schwab (SCHW) Misses Q1 EPS by 5c

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Go back to Charles Schwab (SCHW) Misses Q1 EPS by 5c

Schwab Reports First Quarter Earnings Per Share of $.58, Including $.04 Per Share of Acquisition and Pandemic Response Expenses

April 15, 2020 8:45 AM EDT

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

SAN FRANCISCO--(BUSINESS WIRE)-- The Charles Schwab Corporation announced today that its net income for the first quarter of 2020 was $795 million, down 7% from $852 million for the prior quarter, and down 18% from $964 million for the first quarter of 2019. The companys 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... More