"The Charles Schwab Corporation announced today that its net income for the first quarter of 2023 was $1.6 billion, up 14% from $1.4 billion for the first quarter of 2022."
"Client And Business Momentum Continued; Organic Asset Growth Exceeded 7% 10% Year-over-Year Revenue Growth; GAAP Pre-Tax Profit Margin of 41.2%; 45.8% Adjusted"
"In light of recent events within the U.S. banking sector, and the resulting regulatory uncertainty, we have decided to pause our active buyback program."
Adjusted earnings YOY up 20% to 93 cents per share.
Revenue YOY rose 10% to $5.116 billion.
Forecast:
Analysts forecast Q2 earnings of 85 cents per share, down 12% YOY.
Wall Street projects full-year earnings of $3.63 per share, down ~7% vs 2022.
https://content.schwab.com/web/retail/public/about-schwab/schw_q1_2023_earnings_release.pdf
[link] [comments] https://www.reddit.com/r/stocks/comments/12pgfxs/charles_schwab_schw_reported_a_big_earnings_jump/
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