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Schwab gets big boost from rising rates

Jul. 18, 2016 2:58 PM ETThe Charles Schwab Corporation (SCHW) StockSCHWBy: Stephen Alpher, SA News Editor
  • Q2 net income of $452M or $0.30 per share vs. $353M and $0.25 one year ago. Pretax profit margin of 39.4% is the highest since 2008, and up from 36.2% a year ago.
  • Higher short-term rates were a big help to this quarter's result, as money-market fee waivers totaled just $55M vs. $97M in Q1.
  • Core net new assets of $26.6B for the quarter brings the year's total to $58.6B.
  • Previously: Charles Schwab EPS in-line, beats on revenue (July 18)
  • SCHW -0.1% for the session.

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