- Charles Schwab's (NYSE:SCHW +0.3%) Q4 reflects the company's $22B acquisition of TD Ameritrade and included its single-day trading record of 7.8M trades on Nov. 9.
- Q4 adjusted EPS of 74 cents, beating the average analyst estimate of 70 cents and vs. 63 cents in the year-ago quarter.
- Posts record $119.4B of core net new assets in Q4; at Dec. 31, 2020, total client assets reached a record of $6.69T across 29.6M brokerage accounts, up 66% and 140%, respectively, from a year ago.
- Q4 total revenue of $4.18B exceeds consensus of $4.07B and compares with $2.45B in Q3 and $2.61B a year ago:
- Net interest revenue of $1.81B jumped 35% Q/Q and increased 13% Y/Y;
- Asset management and administration fees of $987M rose from $845M, up 15% Q/Q and 17% Y/Y;
- Trading revenue surged to $854M from $122M.
- Q4 total expenses excluding interest of $2.70B rose from $1.56B in Q3 and $1.49B in Q4 2019.
- Q4 adjusted pretax profit margin of 45.6% increases from 43.6% a year ago.
- Q4 revenue per trade of $2.34 increased 21% Q/Q and declined 5% Y/Y.
- SCHW will hold its winter investor update on Feb. 2 at 11:00 AM ET.
- Previously: Charles Schwab EPS beats by $0.04, beats on revenue (Jan. 19)