Charles Schwab (SCHW, Financial), a well-known financial services company in the United States, soars 7.6% today as its $4.8 billion revenue surpasses the consensus estimate of $4.78 billion revenue. It also has its earnings per share (EPS) of $0.77 far beyond analysts' expectation of just $0.05.
Charles Schwab offers a wide range of financial products and services and divides its revenue into two segments; investor services and advisor services. The company is known for its commitment to providing low-cost, commission-free trading services to its customers.
Charles Schwab's ability to meet or exceed analyst expectations has fluctuated over time, occasionally exceeding expectations and other times falling below them:
After missing two consecutive quarters of estimates, this financial results marks an important turnaround for the company.
Schwab seems to have overcome a decline in customer deposits as client transaction cash sweep rose to $9.2 billion and allowing them to reduce their reliance on bank supplemental funding by $8.9 billion.
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