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Sep 30, 2020
Charles Schwab Q3 2020 Earnings Report
Charles Schwab's third quarter earnings were reported with GAAP EPS of $0.48 and adjusted EPS of $0.51. Core net new assets totaled $42.7 billion, and client assets reached $4.40 trillion, up 17% year-over-year.
Key Takeaways
Charles Schwab reported a net income of $698 million for the third quarter of 2020, compared to $671 million for the second quarter of 2020 and $951 million for the third quarter of 2019. The company's financial results include acquisition and integration-related costs as well as the amortization of acquired intangibles. Total client assets ended the quarter at $4.40 trillion, up 17%.
Net income for the third quarter of 2020 was $698 million.
Core net new assets totaled $42.7 billion, including a record September of $20.0 billion.
Client assets totaled $4.40 trillion, up 17% year-over-year.
New brokerage account formation was healthy with 592 thousand new accounts opened during the quarter.
Charles Schwab
Charles Schwab
Charles Schwab Revenue by Segment
Revenue by Segment
Net Interest Revenue
CapyFin.comAsset Mgmt & Admin Fees Revenue
CapyFin.comTrading Revenue
CapyFin.com Forward Guidance
The company did not provide a specific financial outlook in this report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income