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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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