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.
