CFO Peter Crawford said in the release that revenue \u2014 which fell 9% year over year \u2014 was hurt by customers reallocating their cash with higher rates. However, Crawford stated that “we observed a continued and substantial deceleration in the daily pace of cash outflows” in June and that the company expected client cash to start growing again by the end of the year.<\/p>\n

Shares of Schwab entered Tuesday down nearly 30% for the year. The stock was hit hard<\/a> during the regional banking crisis in March, as investors grew concerned about the value of the debt on Schwab’s balance sheet and potential deposit outflows.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"

A man passes by a location of financial broker Charles Schwab in the financial district in New York, March 20, 2023. Brendan McDermid | Reuters Shares of brokerage firm Charles Schwab rose sharply Tuesday after the company’s second-quarter report topped expectations. Schwab generated 75 cents in adjusted earnings per share on $4.66 billion in revenue.…<\/p>\n","protected":false},"author":1,"featured_media":41347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-41346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n