Brokerage firm Charles Schwab's third-quarter net income rose about 25% on Tuesday, driven by a jump in asset management fees and client assets hitting a record high, sending its shares up more than 9% in premarket trading.

Shares of brokerage Charles Schwab Corp. had one of their best days of the year after the company announced its third-quarter earnings on Tuesday. Schwab SCHW beat Wall Street estimates for both profit and revenue.

Charles Schwab executives have said 2024 is a transition year. When the brokerage firm reports earnings Tuesday, shareholders will want to know how that transition is going. Schwab shareholders may also get some fresh insights into the company’s future leadership.

Key Takeaways Charles Schwab stock jumped to a three-month high after the financial services company reported third-quarter results above what analysts had expected.Revenue and profits rose year-over-year,

Charles Schwab’s SCHW third-quarter 2024 adjusted earnings of 77 cents per share beat the Zacks Consensus Estimate. The bottom line, however, remained stable year over year. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.