Charles Schwab Achieves Record Q1 Revenue Surge

Published 8 days agoSCHW

Charles Schwab Achieves Record Q1 Revenue Surge

Charles Schwab reported record net revenue of $5.6 billion for the first quarter of 2025, reflecting an 18% increase year-over-year and exceeding market expectations of $5.46 billion. The financial services firm delivered a GAAP earnings per share (EPS) of $0.99, aligned with forecasts, while the adjusted EPS of $1.04 surpassed the projected $0.99.

Net income climbed to $1.9 billion, a 40% increase from the previous year's $1.362 billion, with an adjusted net income totaling $2.0 billion. Total client assets experienced a rise of 9% from the same quarter last year, reaching $9.93 trillion. The company's success in attracting new assets was notable, with core net new assets expanding by 44% to $137.7 billion, according to details from Insider Monkey.

Schwab's trading revenue grew by 11% as trading volumes increased, and net interest margin improved to 2.53%. During the quarter, Schwab hiked its quarterly common dividend by 8% to $0.27 per share and executed a $1.5 billion stock repurchase. The company opened 1.2 million new brokerage accounts, accumulating a total of 37 million active accounts, and effectively decreased bank supplemental funding by 46% to $38.1 billion.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Uber Faces FTC Lawsuit and CEO Comments on Economic Stability

Uber Faces FTC Lawsuit and CEO Comments on Economic Stability

3 minutes agoUBER

Uber's CEO Dara Khosrowshahi is under scrutiny as the U.S. Federal Trade Commission (FTC) has initiated a lawsuit against the company. The FTC accuses Uber of deceptive practices linked to its Uber One subscription, alleging that the company overstated savings and complicated the cancellation process for users of the $9.99 per month service. Khosrowshahi has referred to the FTC's actions as puzzling and maintains that Uber's processes are both legal and efficient. According to FT.com, Uber has contested the FTC's allegations, emphasizing that the cancellation process for the Uber One subscription is straightforward and can be completed in under 20 seconds via the app. This development comes as Uber is making efforts to defend its business practices amidst growing regulatory scrutiny. The $9.99 per month service had been marketed as easily cancellable, putting Uber's transparency in the spotlight. Further addressing broader concerns, Khosrowshahi commented on economic conditions, noting the absence of recession indicators. His remarks suggest confidence in the current economic climate, underscoring Uber's focus on maneuvering through both legal and macroeconomic landscapes without foreseeing imminent economic challenges.

Unity Software Climbs Amid Analyst Upgrades and Strong Earnings

Unity Software Climbs Amid Analyst Upgrades and Strong Earnings

18 minutes agoU

Unity Software has enjoyed a streak of gains for eight consecutive trading sessions. This momentum was largely driven by multiple analyst upgrades and increased price targets. Piper Sandler, for instance, maintained an overweight rating and raised its price target for Unity from $150 to $152, highlighting the company's resilience and potential for market share expansion in the post-IDFA environment, as noted by The Street. Supporting this bullish sentiment, Unity reported a narrower-than-expected loss of 2 cents per share, beating analyst expectations of an 11-cent loss. The company reported a substantial 48% year-over-year increase in revenue, reaching $273.6 million. Unity also raised its full-year guidance, signaling robust financial health and performance as detailed by The Street. Investor confidence is further bolstered by recent leadership changes, with CEO John Riccitiello's retirement and James Whitehurst's appointment as interim CEO being positively received. Combined with Unity's strong market position in 3D graphics software and backing from major investors like Catherine Wood and PRIMECAP Management, these factors have supported Unity's impressive stock performance, according to Benzinga.

Amgen Injects $900 Million into Ohio Biotech Plant Expansion

Amgen Injects $900 Million into Ohio Biotech Plant Expansion

33 minutes agoAMGN

Amgen has unveiled plans for a $900 million expansion of its biotech manufacturing facility in Ohio, increasing its overall investment in the region to over $1.4 billion. This move is set to create 750 new jobs, further supporting the local economy, according to Reuters. The expansion comes as part of a broader industry trend where major pharmaceutical companies like Eli Lilly, Novartis, Roche, and Johnson & Johnson are boosting U.S. manufacturing capabilities. These shifts are largely driven by potential import tariffs aimed at encouraging domestic production. Establishing new production facilities in the U.S. entails substantial investment and regulatory challenges, often requiring five to ten years and around $2 billion. Since the 2017 Tax Cuts and Jobs Act, Amgen has committed nearly $5 billion to U.S. capital projects, contributing an estimated $12 billion to the nation's economy. Beyond Ohio, Amgen operates manufacturing sites in Massachusetts, Rhode Island, California, and around the globe, including Puerto Rico, Ireland, the Netherlands, and Singapore.

Phillips 66 Faces Major Q1 Loss Due to Refining Margin Drop

Phillips 66 Faces Major Q1 Loss Due to Refining Margin Drop

48 minutes agoPSX

Phillips 66 has reported a significant loss for the first quarter of 2025, highlighting challenges in its refining division. The company recorded a net loss of $937 million in its refining unit, a drastic change from the $216 million profit it had seen a year ago. This downturn was primarily driven by a 38% decline in realized refining margins, which fell to $6.81 per barrel, coupled with increased maintenance costs. Maintenance operations significantly impacted Phillips 66's recent performance, with turnaround expenses more than doubling to $270 million. As a result, refinery utilization plummeted to 80%, down from 92% in the previous year. The extensive maintenance efforts are crucial to the company’s operations but have come amidst a broader industry context of tightening margins and competitive pressures. CEO Mark Lashier addressed the loss by citing a challenging macroeconomic environment and the substantial scale of spring maintenance activities. Despite the immediate financial setback, Lashier expressed optimism about future profitability. According to Reuters, shares of Phillips 66 fell nearly 2% following the earnings announcement, reflecting investor concerns shared across the sector as Peers like Valero Energy reported similar financial strains.