---
schema_version: "secwatch.filing_event.v1"
accession: "0000316709-23-000047"
form_type: "8-K"
ticker: "SCHW"
cik: "0000316709"
company_name: "SCHWAB CHARLES CORP"
filed_at: "2023-10-16T23:59:59+00:00"
generated_at: "2026-06-09T23:40:34.985758+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Schwab reports Q3 2023: GAAP EPS $0.56 (down 43%), revenues $4.6B (down 16%)

## Summary
- GAAP net income $1.125B (down 44% YoY); adjusted net income $1.518B (down 31%).
- Total net revenues $4.606B down 16% from $5.5B in Q3 2022.
- Pre-tax profit margin GAAP 30.0% vs 48.7% a year ago.
- Core net new assets in September exceeded $27 billion; bank sweep deposits grew.
- Successfully completed largest brokerage conversion event in history.

## SEC filing metadata
- accession: 0000316709-23-000047
- form_type: 8-K
- ticker: SCHW
- cik: 0000316709
- company_name: SCHWAB CHARLES CORP
- filed_at: 2023-10-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/316709/000031670923000047/0000316709-23-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/316709/000031670923000047/schw-20231016.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000316709-23-000047
- JSON: https://secwatch.observer/filing/0000316709-23-000047.json
- Plain text: https://secwatch.observer/filing/0000316709-23-000047.txt

## Key facts
- Earnings Releases
  SCHWAB CHARLES CORP reported quarter ended September 30, 2023 results: net income $1.1 billion, EPS $.56.
  - Period: quarter ended September 30, 2023
  - Net income: $1.1 billion
  - EPS: $.56
  - Result: reported results
  source text: The Charles Schwab Corporation announced today that its net income for the third quarter of 2023 was $1.1 billion compared with $2.0 billion for the third quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000031670923000047/0000316709-23-000047-index.htm
- Earnings Releases
  SCHWAB CHARLES CORP reported the nine months ended September 30, 2023 results: net income $ 4.0 billion, EPS $ 2.03.
  - Period: the nine months ended September 30, 2023
  - Net income: $ 4.0 billion
  - EPS: $ 2.03
  - Result: reported results
  source text: Net income for the nine months ended September 30, 2023 was $ 4.0 billion, compared with $5.2 billion for the year-earlier period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000031670923000047/0000316709-23-000047-index.htm

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