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Despite revenue dipping by 2% in the third quarter, Charles Schwab Stock Up beat profit expectations despite the revenue dip, citing increased account activity and constructive outlook from its independent financial analysts. Schwab said the increased account activity, organic growth and favorable market conditions are contributing factors.
Charles Schwab Stock Up, Schwab’s $4 billion equity-investment strategy, reported equity fund assets under management (AUM) grew to $1.057 trillion at the end of September from $1.051 trillion at the end of June. Schwab said there are now 2.3 million Schwab Stock Up accounts with $428 billion in assets.
Charles Schwab Stock Up is designed to outperform the S&P 500
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