Shares of financial services major The Charles Schwab Corporation (SCHW) gained 3.6% on Friday to close at $81 after the company reported better-than-expected results for the third quarter ended September 30, 2021. The strong results can be attributed primarily to the growth witnesses in revenues. Charles Schwab reported quarterly revenues of $4.57 billion, up 87% from the prior year’s figure of $2.45 billion. Further, the revenue figure topped the consensus estimate of $4.52 billion. This growth was primarily driven by a 51.2% year-over-year rise in net interest revenues, which also made up 44.1% of the total net revenues.
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Charles Schwab (NYSE:SCHW)
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