secwatch.observer — SEC 8-K summary
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Issuer:     SCHWAB CHARLES CORP (SCHW)
CIK:        0000316709
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0000316709-24-000041
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/316709/000031670924000041/0000316709-24-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/316709/000031670924000041/schw-20240415.htm
  HTML page:      https://secwatch.observer/filing/0000316709-24-000041

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