Charles Schwab (NYSE:SCHW) is expected to post lower revenue and a decline in earnings when it reports third-quarter earnings before the opening bell on October 16, 2023.
Net income and deposits are expected to have continued to come under pressure, the same as in the second quarter, which it attributed at the time to significant near-term headwinds.
The company, which also provides securities brokerage, banking and related financial services, is likely to report a 14.7% drop in revenue to $4.69 billion, according to Zacks Consensus Estimate, with earnings per share coming in 31% lower at $0.76.
While the forecasts are gloomy, Charles Schwab (NYSE:SCHW) beat estimates with its 2Q report, despite posting lower revenue and earnings due to a decline in bank deposits and net income.
Contact the author at stephen.gunnion@proactiveinvestors.com