The company said net income for 2023 was $5.1 billion and diluted EPS was $2.54, down 29% and 27%, respectively, from the prior year. Adjusted diluted EPS was $3.13, down 20% from $3.90 in 2022.

1. 01

   The company said net income for 2023 was $5.1 billion and diluted EPS was $2.54, down 29% and 27%, respectively, from the prior year. Adjusted diluted EPS was $3.13, down 20% from $3.90 in 2022.

2. 02

   Schwab said total net revenues for 2023 were $18.8 billion, down 9% from the prior year, and net interest revenue was $9.4 billion, down 12%. Asset management and administration fees rose 13% to $4.8 billion.

3. 03

   The company said core net new client assets were $305.7 billion in 2023, and total client assets reached $8.52 trillion as of December 31, 2023, up 21% from year-end 2022. It also said bank sweep deposits and payables to brokerage clients decreased by a total of $126.1 billion over the same period.

4. 04

   Under the new authorization, the company said it repurchased 37 million shares of common stock in 2023 for $2.8 billion and did not initiate repurchases after the first quarter of 2023. As of December 31, 2023, about $8.7 billion remained under the new authorization.

Key figures

Fiscal year ended December 31, 2023

Revenue

$18.8B

Net income

$5.1B

EPS

$2.54

Operating cash flow

$19.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.