secwatch.observer — SEC 8-K summary
======================================

Issuer:     SCHWAB CHARLES CORP (SCHW)
CIK:        0000316709
Form:       8-K
Filed at:   2023-10-16T23:59:59+00:00
Accession:  0000316709-23-000047
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/316709/000031670923000047/0000316709-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/316709/000031670923000047/schw-20231016.htm
  HTML page:      https://secwatch.observer/filing/0000316709-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer