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Schwab stock drops after company falls short of adj. earnings and revenue mark

Clyde Edgerton by Clyde Edgerton
January 18, 2023
in Markets
Schwab stock drops after company falls short of adj. earnings and revenue mark
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Charles Schwab Corp.
SCHW,
+0.61%
stock fell 2% in premarket trades Wednesday after the brokerage company fell short of Wall Street’s targets for adjusted earnings and revenue. Schwab said its fourth-quarter net income rose 25% to $1.97 billion, or 97 cents a share, from $1.58 billion, or 76 cents a share in the year-ago quarter. Schwab’s adjusted earnings in the latest quarter totaled $1.07 a share, short of the forecast of $1.09 a share by analysts surveyed by FactSet. Schwab’s fourth-quarter revenue rose 17% to just under $5.5 billion, below the Wall Street target of $5.55 billion.



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