Charles Schwab’s Q2 adjusted EPS of $1.62 surpassed estimates but expenses rose more than expected, weighing on shares.
Charles Schwab reported Q2 adjusted earnings per share of $1.62, topping the $1.55 consensus estimate. The figure rose from $1.43 in Q1 and $1.14 in the year-ago period, driven by higher revenue.
Despite the earnings beat, expenses increased more than analysts anticipated, pressuring margins. The company’s stock fell 1.6% in premarket trading as investors focused on the cost surge rather than the earnings outperformance.
No immediate market reaction details were provided beyond the premarket decline.