Overview

• Charles Schwab reported adjusted earnings per share of $1.14 for the second quarter, beating analyst expectations of $1.07.
• Revenue rose 24.8% year-over-year to $5.85 billion, exceeding the $5.64 billion forecast.
• Trading revenue jumped 22.5% to $952 million and net interest income increased 30.8% to $2.82 billion.
• Total client assets climbed 14% to a record $10.76 trillion as the firm added more than 1 million new brokerage accounts.
• Shares climbed to an all-time high after analysts at firms including Morgan Stanley and Barclays raised their price targets.