Shares of Charles Schwab fell sharply Tuesday after the company’s quarterly earnings report fell short on some important metrics, including bank deposits, net interest revenue, and new brokerage accounts. CEO Walt Bettinger also indicated it would adjust its bank strategy over the long term.
On Tuesday morning, Schwab reported second-quarter earnings per share of 73 cents, a penny above analysts’ estimates of 72 cents. Revenue came in at $4.7 billion, in line with estimates, according to FactSet.
Though…
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