Charles Schwab's fourth-quarter profit soars on higher asset management fees

(Reuters) - Brokerage steadfast Charles Schwab (NYSE:) said connected Tuesday that its nett roseate 44% successful the 4th fourth driven by a leap successful plus absorption fees, sending its shares up much than 6% successful premarket trading.

WHY IT'S IMPORTANT

The results are the archetypal nether caller CEO Rick Wurster's ticker and could acceptable the code for the institution aft Walt Bettinger retired arsenic main enforcement astatine the extremity of 2024, aft 16 years astatine the helm.

Schwab's diversified concern exemplary spans brokerage services, plus management, banking and different fiscal solutions, and its results often bespeak trends successful the concern landscape.

CONTEXT

Expectations of little firm taxes and deregulation nether recently elected U.S. President Donald Trump sparked a marketplace rally that boosted Schwab's assets nether absorption arsenic good arsenic corresponding fees.

BY THE NUMBERS

The Westlake, Texas-based company's full lawsuit assets roseate 19% to $10.10 trillion successful the 3 months ended Dec. 31.

Schwab's plus absorption and medication fees, earned from managing communal funds and exchange-traded funds, accrued 22% to $1.51 billion.

Its full nett revenues roseate 20% to $5.33 cardinal successful the reported quarter.

The institution posted an adjusted nett of $1.01 per stock for the 4th quarter, compared with $0.68 per stock a twelvemonth earlier.