Charles Schwab Shares Dip 9% Following Q2 Earnings Report

Despite meeting adjusted earnings expectations, concerns over strategic shifts and interest income impact investor sentiment.

Charles Schwab's adjusted earnings per share were $0.73, slightly above analyst expectations of $0.72.
The company's net interest revenue fell 6% year-over-year, impacting overall profitability.
CEO Walt Bettinger announced plans to downsize the banking segment to better manage capital requirements.
New brokerage accounts totaled 985,000 for the quarter, below the anticipated 1.04 million.
Total client assets reached a record $9.4 trillion, an increase of 17% from the previous year.