Schwab Q1 GAAP EPS $0.68, adjusted $0.74; core net new assets $96B; record client assets $9.1T

SCHWAB CHARLES CORP

2024-Q1 EPS reported $0.68 revenue$4,740,000,000

Net revenues $4.74B, down 7% YoY but up 6% sequentially; GAAP net income $1.36B ($0.68 EPS); adjusted net income $1.47B ($0.74 EPS).
Core net new assets $96B in 1Q24, including $45B in March; total client assets record $9.1T, up 20% YoY.
GAAP pre-tax margin 37.9%; adjusted 40.9%, expanding ~500 bps from 4Q23.
Asset management and administration fees record $1.3B, up 21% YoY.
Supplemental funding decreased $8.8B to $70.8B; net interest margin 2.02%, up 13 bps sequentially.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SCHWAB CHARLES CORP reported the quarter ended March 31, 2024 results: revenue $4.7 billion, net income $1.4 billion, or $.68 diluted earnings per common share, EPS $.68 diluted earnings per common share.

Period: the quarter ended March 31, 2024
Revenue: $4.7 billion
Net income: $1.4 billion, or $.68 diluted earnings per common share
EPS: $.68 diluted earnings per common share
Result: reported results

Exact text from the filing

The Charles Schwab Corporation reported first quarter 2024 net revenues of $4.7 billion, reflecting a quarter-over-quarter increase of 6%. Net income for the quarter totaled $1.4 billion, or $.68 diluted earnings per common share.

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SCHWAB CHARLES CORP filing history →

Source: SEC EDGAR

accession 0000316709-24-000041

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