Charles Schwab (SCHW) Q1 Earnings and Revenues Beat Expectations

The Charles Schwab Corporation (SCHW) exceeded the Zacks Consensus Estimate of $0.73 per share with quarterly earnings of $0.74. This compares to $0.93 per share last year. Adjusted for non-recurring items. Its quarterly earnings surprise is 1.37%. This company's earnings of $0.68 per share surprised analysts by 4.62% a quarter earlier.  

The company outperformed consensus EPS projections four times in the last four quarters. For the quarter ended March 2024, Zacks Financial - Investment Bank company Charles Schwab reported $4.74 billion in revenues, beating the Zacks Consensus Estimate by 0.56%. Revenues were $5.12 billion last year. In the recent four quarters, the company surpassed consensus revenue projections three times.  

Management's earnings call commentary will determine whether the stock's quick price movement based on recently published figures and future earnings estimates will last. Since January, Charles Schwab shares have gained 1.8% compared to the S&P 500's 7.4%.  

Next for Charles Schwab? Investors wonder what's next for Charles Schwab, which has underperformed the market this year. The company's profits outlook can assist investors answer this important question, but there are no easy answers. This includes current consensus earnings predictions for the coming quarter(s) and their recent changes.  

Near-term market fluctuations and earnings estimate revisions are strongly correlated, according to empirical studies. Investors can track earnings estimate revisions themselves or use the Zacks Rank, which has a proven track record of doing so.

Before this earnings report, Charles Schwab estimate revisions were uneven. After the company's earnings report, estimate revisions may alter, but the stock has a Zacks Rank #3 (Hold). The shares should follow the market in the foreseeable future. See all today's Zacks #1 Rank (Strong Buy) stocks here.  

It will be fascinating to observe how quarter and fiscal year estimates adjust. The consensus EPS forecast for the approaching quarter is $0.83 on $4.91 billion in revenues and $3.40 on $19.8 billion for the current fiscal year.  

Investors should be aware that industry outlook can affect stock performance. Financial - Investment Bank ranks in the top 10% of 250+ Zacks industries. Our analysis reveals that the top 50% of Zacks-ranked sectors beat the bottom 50% by more than 2 to 1.  

Other industry stock Interactive Brokers Group, Inc. (IBKR) has not reported quarterly results for March 2024. The results should be revealed on April 16. This company is predicted to report quarterly earnings of $1.62 per share, up 20% year-over-year. Over the past 30 days, the consensus quarter EPS estimate has increased 5%.  

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