RSS Charles Schwab November Core Net New Assets Total $28.8 Bln; Boosts FY24 Revenue Growth Outlook

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 RSS Charles Schwab November Core Net New Assets Total $28.8 Bln; Boosts FY24 Revenue Growth Outlook

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Charles Schwab Corp. (SCHW) unveiled its Monthly Activity Report for November on Friday, announcing that total client assets reached $10.31 trillion at the end of the month. This marks an increase of 26% from November 2023 and a 5% rise from October 2024.

During November 2024, the company attracted $28.8 billion in core net new assets from both new and existing clients. When excluding mutual fund clearing, this figure stands at $24.1 billion.

The average daily trades for November surged by 20% from the previous month, totaling 6.6 million trades, largely fueled by increased equity volumes.

For the full year of 2024, Charles Schwab now anticipates net revenue growth of between 3.0 and 3.5 percent. This is an upward revision from the earlier forecast of 2.0 to 3.0 percent growth.

Analysts surveyed by Thomson Reuters, on average, predict the company's revenue will grow by 2.94 percent, totaling $19.39 billion for the year.

The material has been provided by InstaForex Company - www.instaforex.com
 
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