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Charles Schwab Q3 net income jumps 49% YOY

Charles Schwab Corp. reported third-quarter net income available to common stockholders of $885 million, or 65 cents per share, up from $575 million, or 42 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 65 cents.

Total net revenues for the quarter increased year over year to $2.58 billion, up 19% from $2.17 billion in the year-ago period. Asset management and administration fees dropped to $809 million from $861 million. Net interest revenue grew to $1.53 billion in the most recent quarter from $1.08 billion. Trading revenue increased year over year to $176 million from $151 million.

Total client assets at the end of the third quarter were $3.564 trillion, compared to $3.397 trillion at the end of the previous quarter and $3.181 trillion at the end of the third quarter of 2017.