Schwab Earnings: Higher Net Yields Continue To Drive Revenues
Charles Schwab (NYSE:SCHW) announced its Q2 2016 earnings on July 18, reporting a 17% y-0-y increase in net revenue and 28% y-o-y growth in net income, to $452 million. The growth in top line was mainly driven by net interest revenue (up 30% y-o-y ). Moreover, asset management fees increased 13% y-o-y, as the company enhanced its advisory services by setting and tracking long-terms goals for its clients and providing timely, actionable insights. However, this growth in revenues was slightly offset by a decline in trading commissions.
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