What You Need to Know
- The second-quarter results include those of TD Ameritrade.
- Adjusted earnings missed analysts' expectations by a penny.
- Schwab Advisor Services AUM rose 82% from a year ago.
Charles Schwab’s latest profits — which include those of TD Ameritrade — rose nearly 90% year over year to $1.27 billion in the second quarter from $671 million. Earnings per share grew almost 25% to $0.59 from $0.48.
Adjusted earnings, excluding one-time items, of $0.70 missed analysts’ expectations by a penny, according to FactSet.
Revenue was roughly $4.53 billion, though, ahead of an anticipated $4.46 billion, and up 85% from $2.45 billion a year ago.