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Dec 31, 2023
Charles Schwab Q4 2023 Earnings Report
Net income decreased due to market environment shaped by interest rate tightening, while client assets reached a record high.
Key Takeaways
Charles Schwab's Q4 2023 net income was $1.0 billion, a decrease from $2.0 billion in Q4 2022. Total client assets reached a record $8.52 trillion at year-end, up 21%. The company saw $306 billion in core net new assets during the year, including over $43 billion in December alone.
Net income for the fourth quarter of 2023 was $1.0 billion, compared to $2.0 billion for the fourth quarter of 2022.
Total client assets reached a record $8.52 trillion at year-end, a 21% increase.
The company welcomed 977 thousand new-to-firm retail households and 315 advisors-in-transition.
Ameritrade client conversion was approximately 90% complete with positive feedback.
Revenue by Segment
Forward Guidance
The company did not provide specific financial forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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