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Charles Schwab's Q4'16 net income, revenues grow YOY

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Charles Schwab's Q4'16 net income, revenues grow YOY

Charles Schwab Corp. reported fourth-quarter 2016 net income available to common stockholders of $478 million, or 36 cents per share, compared to $378 million, or 28 cents per share, in the year-ago period.

The S&P Capital IQ consensus GAAP EPS estimate for the quarter was 36 cents.

Total net revenues for the quarter increased 17% year over year to $1.97 billion from $1.69 billion. Asset management and administration fees increased 19% year over year to $801 million from $673 million.

Net interest revenue grew 31% to $907 million in the most recent quarter from $690 million. Trading revenue dropped 3% year over year to $202 million from $208 million.

Total client assets at the end of the fourth quarter of 2016 were $2.780 trillion, versus $2.725 trillion at the end of the third quarter of 2016 and $2.514 trillion in the prior-year quarter.

Charles Schwab reported daily average revenue trades of 293,000 in the fourth quarter of 2016, up from 268,000 in the third quarter of 2016 and 285,000 in the year-ago quarter.

Full-year 2016 net income attributable to common shareholders was $1.75 billion, or $1.31 per share, compared to $1.36 billion, or $1.03 per share, in 2015.

The S&P Capital IQ consensus GAAP EPS estimate for 2016 was $1.30.