MW Schwab says market volatility fueled volume as Q1 profit outpaces estimates
Charles Schwab Corp.'s stock $(SCHW)$ was up 2.9% in premarket trading after the online broker and money-management company said market volatility drove a surge in average trading volume, as it beat Wall Street analyst estimates for first-quarter profit.
Schwab said "a sharp increase in market volatility" during the quarter drove a 17% jump in daily average trading volume.
The financial firm's first-quarter net income rose to $1.91 billion, or 99 cents a share, from $1.36 billion, or 68 cents a share, in the year-ago quarter.
Adjusted first-quarter profit of $1.04 a share beat the FactSet consensus estimate of $1.01 a share.
Schwab's first-quarter revenue increased to $5.6 billion from $4.74 billion in the year-ago quarter, ahead of the analyst projection of $5.53 billion.
-Steve Gelsi
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April 17, 2025 07:47 ET (11:47 GMT)
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