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Schwab down 1% after Q4 results

Published 01/17/2018, 10:01 AM
© Reuters.  Schwab down 1% after Q4 results
SCHW
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  • Q4 total revenue of $2.242B was up 14% Y/Y, thanks mostly to rising interest rates (net interest revenue up 26%). Trading revenue was down 24% Y/Y in Q4 thanks to big cuts in commissions (implemented about a year ago). For the year, trading revenue of $654M was down 21% from 2016.
  • 1.4M new accounts opened last year, with households new to the retail business up 49% from 2016. $198.6B in core net new assets, up 58%.
  • Previously: Charles Schwab EPS in-line, beats on revenue (Jan. 17)
  • The Schwab (NYSE:SCHW) bulls today are taking a breather, with shares down 1%. They remain higher by 8% for 2018.
  • Now read: Wedgewood Partners Q4 2017 Client Letter - The Great Bull Market Of 2009-2018: The Greatest


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