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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Charles Schwab Corporation | NYSE:SCHW | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.05 | 1.42% | 75.00 | 75.37 | 73.45 | 73.96 | 7,016,118 | 01:00:00 |
By Robb M. Stewart
Toronto-Dominion Bank said Thursday it expects Charles Schwab Corp.'s quarterly earnings to translate into about 285 million Canadian dollars ($211 million) of reported equity in net income of its investment in the financial-services company for the fiscal first quarter.
The expected after-tax, adjusted equity in net income of the investment in Schwab will be about C$328 million, excluding acquisition-related charges of roughly C$13 million and amortization of acquired intangibles of aboutr C$30 million, TD Bank said.
On Wednesday, Texas-based Charles Schwab reported its fourth-quarter net income rose 25% to $2 billion as higher interest rates boosted net interest income, and net revenue rose 17% to $5.5 billion.
TD Bank is scheduled to release its first-quarter financial results on March 2. According to forecasts compiled by FactSet, analysts are expecting earnings of C$1.93 a share for the quarter, down from C$2.02 in the three months ended Jan. 31, 2022, and revenue of C$12.19 billion, up from C$11.28 billion a year earlier.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
January 19, 2023 07:11 ET (12:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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