---
schema_version: "secwatch.filing_event.v1"
accession: "0000316709-23-000033"
form_type: "8-K"
ticker: "SCHW"
cik: "0000316709"
company_name: "SCHWAB CHARLES CORP"
filed_at: "2023-07-18T23:59:59+00:00"
generated_at: "2026-06-13T07:18:57.870155+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Schwab Q2 net income $1.3B (-28% YoY); GAAP EPS $0.64, adjusted $0.75; total client assets >$8T

## Summary
- Net revenue $4.656B (-9% YoY); GAAP net income $1.294B (-28%); diluted GAAP EPS $0.64 (-26%).
- Adjusted net income $1.494B (-25%); adjusted diluted EPS $0.75 (-23%); adjusted pre-tax margin 42.0%.
- Total client assets exceeded $8 trillion; GAAP pre-tax margin 36.3% vs 44.6% a year ago.
- Return on average common equity 17% annualized; return on tangible common equity 62% annualized.

## SEC filing metadata
- accession: 0000316709-23-000033
- form_type: 8-K
- ticker: SCHW
- cik: 0000316709
- company_name: SCHWAB CHARLES CORP
- filed_at: 2023-07-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/316709/000031670923000033/0000316709-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/316709/000031670923000033/schw-20230718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000316709-23-000033
- JSON: https://secwatch.observer/filing/0000316709-23-000033.json
- Plain text: https://secwatch.observer/filing/0000316709-23-000033.txt

## Key facts
- Earnings Releases
  SCHWAB CHARLES CORP reported the six months ended June 30, 2023 results: revenue $ 9,772, net income $ 2,897, EPS $ 1.48.
  - Period: the six months ended June 30, 2023
  - Revenue: $ 9,772
  - Net income: $ 2,897
  - EPS: $ 1.48
  - Result: reported results
  source text: period. Three Months Ended June 30, % Six Months Ended June 30, % Financial Highlights (1) 2023 2022 Change 2023 2022 Change Net revenues (in millions) $ 4,656 $ 5,093 (9)% $ 9,772 $ 9,765 — Net income (in millions) GAAP $ 1,294 $ 1,793 (28)% $ 2,897 $ 3,195 (9)% Adjusted (1) $ 1,494 $ 1,981 (25)% $ 3,274 $ 3,572 (8)% Diluted earnings per common share GAAP $
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000031670923000033/0000316709-23-000033-index.htm
- Earnings Releases
  SCHWAB CHARLES CORP reported the quarter ended June 30, 2023 results: revenue $ 4,656, net income $ 1,294, EPS $ .64.
  - Period: the quarter ended June 30, 2023
  - Revenue: $ 4,656
  - Net income: $ 1,294
  - EPS: $ .64
  - Result: reported results
  source text: for the year-earlier period. Three Months Ended June 30, % Six Months Ended June 30, % Financial Highlights (1) 2023 2022 Change 2023 2022 Change Net revenues (in millions) $ 4,656 $ 5,093 (9)% $ 9,772 $ 9,765 — Net income (in millions) GAAP $ 1,294 $ 1,793 (28)% $ 2,897 $ 3,195 (9)% Adjusted (1) $ 1,494 $ 1,981 (25)% $ 3,274 $ 3,572 (8)% Diluted earnings
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000031670923000033/0000316709-23-000033-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.