Why Charles Schwab Shares Are Getting Hammered

Charles Schwab Corporation Common Stock SCHW shares are trading lower by 11.83% at $72.99 after the company reported worse-than-expected first-quarter EPS and sales results.

Charles Schwab reported quarterly earnings of 77 cents per share which missed the analyst consensus estimate of 84 cents by 8.33 percent. Charles Schwab also reported quarterly sales of $4.67 billion which missed the analyst consensus estimate of $4.83 billion by 3%. This sales figure represents a 1% decrease over sales of $4.71 billion in the same period last year.

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Charles Schwab operates in brokerage, banking, and asset-management businesses. The company runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website. 

According to data from Benzinga Pro, Charles Schwab has a 52-week high of $96.24 and a 52-week low of $63.46.