Charles Schwab stock rises 6% on Q4 earnings beat

Investing.com -- Charles Schwab Corporation saw its banal leap 6% aft reporting fourth-quarter net and gross that handily bushed expert expectations, driven by beardown lawsuit engagement and plus gathering.

The fiscal services elephantine posted adjusted net per stock of $1.01, surpassing the statement estimation of $0.89. Revenue climbed 20% YoY to $5.3 billion, topping expert projections of $5.13 billion.

Schwab added $114.8 cardinal successful halfway nett caller assets during Q4, bringing the full-year 2024 full to $366.9 cardinal - a 20% summation from 2023. Total (EPA:) lawsuit assets roseate 19% YoY to $10.10 trillion.

"Strong lawsuit engagement, accrued borderline utilization, encouraging lawsuit currency trends, and grounds nett inflows into our Managed Investing Solutions helped assistance Q4 gross to $5.3 billion," said CEO Rick Wurster.

The company's adjusted pre-tax nett borderline expanded to 46.6% successful Q4, up from 36% a twelvemonth earlier. Client transactional expanse currency balances grew by $34.6 cardinal sequentially to $418.6 billion.

Schwab opened 1.1 cardinal caller brokerage accounts successful Q4, up 23% YoY, bringing full progressive accounts to 36.5 million. Trading enactment accrued 11% compared to Q3 arsenic lawsuit engagement surged pursuing the election.

Looking ahead, absorption expressed assurance successful Schwab's competitory presumption and quality to thrust continued maturation arsenic it capitalizes connected opportunities from the completed Ameritrade integration.