Monday, April 17, 2023

Charles Schwab Q1 Profit Tops Estimates; Revenue Growth At 10%

Investment services firm Charles Schwab Corp. (SCHW), on Monday, reported an increase in profit for the first quarter that also topped Wall Street estimates. Total revenue was up 10% year-over-year and exceeded $5 billion for the fourth consecutive quarter. The company said the combination of top-line growth, coupled with disciplined expense management, yielded a pre-tax margin of 41.2%, or 45.8% adjusted, for the quarter.

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