Charles Schwab (SCHW) has reported an increase in its fourth-quarter earnings, surpassing both last year’s figures and analysts' expectations. The company's net profit for the quarter was $1.840 billion, or $0.94 per share, compared to $1.045 billion, or $0.51 per share, in the same period last year.
When excluding special items, Schwab's adjusted earnings stood at $1.974 billion, equating to $1.01 per share. This performance exceeded the average analyst prediction of earnings of $0.91 per share, as analysts typically do not account for special items.
Additionally, revenue for the quarter experienced a notable increase, rising 19.5% to $5.329 billion, up from $4.459 billion in the previous year.
To summarize the key financial highlights under generally accepted accounting principles (GAAP):
- Net Earnings: $1.840 billion, compared to $1.045 billion last year.
- Earnings Per Share (EPS): $0.94, up from $0.51 in the prior year.
- Revenue: $5.329 billion, an increase from $4.459 billion last year.
Pre-market trading on the New York Stock Exchange saw SCHW shares rise by 6.01%, bringing the stock price to $81.
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