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Charles Schwab Prepares to Report Q3 Earnings as Revenue Growth Slows

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SCHW$95.94 −1.15%

Charles Schwab Corp (NYSE:SCHW) is scheduled to report its third-quarter earnings this Thursday before the market opens. Analysts expect the financial services provider to post year-over-year revenue growth of 17.1%, representing a slowdown from the 26.6% revenue growth reported in the prior-year period. Wall Street analysts have largely maintained their forecasts over the past 30 days.

The upcoming earnings release follows a strong second quarter in which Charles Schwab reported $7.07 billion in revenue, up 20.9% year over year, while topping expectations for revenue, earnings per share, and EBITDA. However, the brokerage has failed to meet Wall Street revenue estimates multiple times over the past two years. Recent earnings reports from capital markets peers showed strong growth, with Goldman Sachs posting a 23% revenue increase and Jefferies reporting an 8.5% rise.

Charles Schwab shares traded at $95.94, down 1.15% today, and have fallen 10.4% over the past month. The decline outpaces a 5.5% drop across capital markets stocks during the same timeframe. Wall Street analysts maintain an average price target of $122.32 for the stock heading into the report.

Key points

  • Charles Schwab (NYSE:SCHW) will report third-quarter earnings this Thursday before the market opens.
  • Wall Street forecasts Q3 revenue growth of 17.1% year over year, down from 26.6% in the same quarter last year.
  • The company beat second-quarter revenue expectations with $7.07 billion, up 20.9% year over year.
  • Charles Schwab stock is down 10.4% over the past month to $95.94, compared to an average price target of $122.32.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When does Charles Schwab report Q3 earnings?

Charles Schwab will report its third-quarter earnings this Thursday before the market opens.

What are revenue expectations for Charles Schwab Q3 earnings?

Wall Street expects revenue to grow 17.1% year over year, compared to 26.6% growth in the same period last year.

What is the average price target for Charles Schwab stock?

Wall Street analysts have an average price target of $122.32 for Charles Schwab stock.