Schwab Q4 net income falls 47% to $1.0B; revenue down 19% to $4.46B

SCHWAB CHARLES CORP

2023-FY EPS reported $2.54 revenue$18,837,000,000

GAAP net income of $1.045B ($0.51 diluted EPS) vs $1.968B ($0.97) a year ago; adjusted EPS $0.68.
Full-year 2023 net income $5.067B, down 29% from $7.183B; adjusted net income $6.159B.
Net revenues Q4 $4.459B, down 19% YoY; full-year revenues $18.837B, down 9%.
Core net new assets in Q4 exceeded $40B (6% annualized growth); total client assets record $8.5T, up 21%.
Pre-tax profit margin fell to 26.8% (GAAP) from 47.3% in Q4 2022.

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