Schwab hits record high after trading boom juiced Q2 earnings
Relentless retail trading activity throughout the tariff-infused volatile second quarter helped drive better-than-expected Q2 results for Charles Schwab.
The company’s stock price vaulted to a new record high in early trading.
The diversified financial giant — a huge brokerage, as well as a bank and money management firm — reported a better-than-expected yearly sales increase of nearly 25% to $5.85 billion and earnings per share of $1.14, beating Wall Street expectations of $1.10.
On its post-earnings conference call, company executives talked up plans to boost crypto trading on the platform.
“We are working on launching Bitcoin and Ethereum,” Schwab CEO Rick Wuster told analysts. “When those launch, I expect those to be a meaningful accelerant or meaningful growth driver.”
Other brokerage firms also caught a bid on Friday, with options house Interactive Brokers — which reported strong results Thursday — rising and Robinhood Markets, due to report July 30, hitting a record high. Shares of crypto platform Coinbase also rose.
(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)
The diversified financial giant — a huge brokerage, as well as a bank and money management firm — reported a better-than-expected yearly sales increase of nearly 25% to $5.85 billion and earnings per share of $1.14, beating Wall Street expectations of $1.10.
On its post-earnings conference call, company executives talked up plans to boost crypto trading on the platform.
“We are working on launching Bitcoin and Ethereum,” Schwab CEO Rick Wuster told analysts. “When those launch, I expect those to be a meaningful accelerant or meaningful growth driver.”
Other brokerage firms also caught a bid on Friday, with options house Interactive Brokers — which reported strong results Thursday — rising and Robinhood Markets, due to report July 30, hitting a record high. Shares of crypto platform Coinbase also rose.
(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)
