Schwab Expects Revenue to Rebound After Slump Earlier This Year

Charles Schwab Corp. said revenue is rebounding after slipping earlier this year as fewer customers shift money in search of higher yields.

Third-quarter revenue will probably rise as much as 3% from the previous three months, after dropping 1% in the second quarter, according to a statement Monday. That would push revenue to as much as $4.83 billion for the period.

“These anticipated quarterly results reflect healthy investor engagement across Schwab’s modern wealth platform and the continued slowing of rate-related client cash realignment activity,” the Westlake, Texas-based brokerage said in the statement.