Charles Schwab (SCHW) EPS edges past estimates, revenue up sequentially but dips YoY
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Schwab Reports First Quarter Results
April 15, 2024 8:00 AM EDT
March Core Net New Assets Equaled $45 Billion Annualized Growth Rate of 6%
Total Client Assets Reached A Record $9.1 Trillion, Up 20% Year-Over-Year
Expanded Profitability With GAAP Pre-Tax Margin of 37.9%; 40.9% Adjusted (1)
WESTLAKE, Texas--(BUSINESS WIRE)-- 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. Excluding $140 million of pre-tax transaction-related and restructuring costs, adjusted (1) net income and diluted common earnings per share equaled $1.5 billion and $.74, respectively.
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