Schwab said net income for Q3 2024 was $1.4 billion, with diluted earnings per share of $.71, up 25% and 27% from the prior year, respectively. Total net revenues for Q3 were $4.8 billion, up 5% from a year earlier.

1. 01

   Schwab said net income for Q3 2024 was $1.4 billion, with diluted earnings per share of $.71, up 25% and 27% from the prior year, respectively. Total net revenues for Q3 were $4.8 billion, up 5% from a year earlier.

2. 02

   The company said net interest revenue for Q3 2024 was $2.2 billion, down 1% from the prior year. It cited lower average interest-earning assets and higher rates paid on funding sources as the main factors. BDA balances on September 30, 2024 were $84.0 billion, down 14% from year-end 2023.

3. 03

   Schwab said core net new assets for Q3 2024 were $95.3 billion, up 109% from the same period a year earlier. It said total client assets were $9.92 trillion as of September 30, 2024. The company also said it had 36.0 million active brokerage accounts on the same day.

4. 04

   Schwab said it paid down $8.9 billion of bank supplemental funding in Q3 2024, bringing the balance to $64.8 billion as of September 30. The company also said its consolidated Tier 1 Leverage Ratio was 9.7% and its adjusted Tier 1 Leverage Ratio, including AOCI, was 6.7% as of the same date.

Key figures

Quarter ended September 30, 2024

Revenue

$4.8B

Net income

$1.4B

EPS

$0.71

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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