Updated: Charles Schwab sees Q2 revenue decline of up to 11%; total client assets up 5% from year-ago to $7.65 trillion in May

Charles Schwab Corp. SCHW said Wednesday it expects to report a 10% to 11% decline in second-quarter revenue due to “temporarily compressed” net interest margin and a smaller interest-earning asset base, along with softer trading activity. Analysts currently expect second-quarter revenue of $4.78 billion for Charles Schwab, down 6% from $5.09 billion in the second quarter of 2022, according to FactSet data. Schwab CFO Peter Crawford said Schwab saw “strong business momentum” in May, but the company booked a slowdown in the average daily pace of net outflows compared to April. Schwab’s core net new assets brought to the…