Charles Schwab Corp. Q2 Net Income Rises; Revenues Up 13%

The Charles Schwab Corp. (SCHW) reported that its second quarter adjusted income per share increased to $0.97 from $0.70, prior year. Net income increased to $1.8 billion from $1.3 billion, a year ago. Earnings per share was $0.87 compared to $0.59.

Net revenues improved 13% year-over-year to $5.09 billion. Net interest revenue was up 31% from the prior year.

"Sustained client engagement was reflected in daily trading volume during the second quarter, which averaged 6.2 million, approximately 3% above year-earlier levels. Clients opened 1.0 million new brokerage accounts during the quarter, and we ended June with 33.9 million active accounts, up 5% year-over-year," CEO Walt Bettinger said.

Shares of Charles Schwab Corp. are up 3% in pre-market trade on Monday.

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