Charles Schwab Q3 2024 Earnings Report
Key Takeaways
Charles Schwab reported a net income of $1.4 billion, or $0.71 per diluted share, for the third quarter of 2024. Total client assets reached a record $9.92 trillion, and core net new assets totaled $95.3 billion. Quarterly net revenues grew by 5% year-over-year to $4.8 billion.
Total client assets increased 27% year-over-year to a record $9.92 trillion.
Core net new assets equaled $95.3 billion, with the year-to-date total exceeding $250 billion.
Quarterly net revenues grew 5% year-over-year to $4.8 billion.
Active brokerage accounts reached 36.0 million, up 4% versus September 2023.
Charles Schwab
Charles Schwab
Charles Schwab Revenue by Segment
Forward Guidance
This press release contains forward-looking statements relating to asset gathering and the company’s momentum with clients; client interest in wealth solutions; the company’s diversified operating model; and capital ratios.
Revenue & Expenses
Visualization of income flow from segment revenue to net income