secwatch.observer — SEC 8-K summary
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Issuer:     SCHWAB CHARLES CORP (SCHW)
CIK:        0000316709
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0000316709-24-000011
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/316709/000031670924000011/0000316709-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/316709/000031670924000011/schw-20240117.htm
  HTML page:      https://secwatch.observer/filing/0000316709-24-000011

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