Charles Schwab Stock Sinks as CEO Says Firm Will Get 'Smaller'
SCHWCharles Schwab(SCHW) Investopedia·2024-07-17 01:06

Key TakeawaysCharles Schwab intends to shrink by relying on off-balance sheet deals with partners, CEO Walt Bettinger said in the financial services firm's second-quarter earnings call Tuesday.The company reported 985,000 new brokerage accounts in the second quarter, below expectation.Schwab posted adjusted earnings per share (EPS) of 73 cents on revenue of $4.69 billion, essentially in line with analysts' expectations. Charles Schwab (SCHW) shares tumbled in intraday trading Tuesday after Chief Executive O ...