Charles Schwab Q4 2023 Earnings Report
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.
Charles Schwab
Charles Schwab
Charles Schwab 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