Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Wednesday reported higher earnings and revenues for the fourth quarter of 2022.
Total revenues increased 17% year-over-year to $5.50 billion in the fourth quarter. In fiscal 2022, the company gathered $428 billion in annual core net new assets and added more than 4 million new accounts.
Net profit, on an adjusted basis, moved up to $1.07 per share in the three-month period from $0.86 per share in the comparable quarter of last year. Unadjusted net income was $1.97 billion or $0.97 per share, compared to $1.58 billion or $0.76 per share in the year-ago quarter.
Check this space to read management/analysts’ comments on Charles Schwab’s Q4 2022 results
“Our focus on meeting the needs of individual investors and the advisors who serve them remains steadfast across any environment. This commitment to consistency of mission, service, and experience sets us apart, helping to drive our strong performance and keeping us positioned as one of the most trusted names in financial services,” said Walt Bettinger, CEO of Charles Schwab.
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