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Financial services company The Charles Schwab Corporation (NYSE: SCHW ) reported higher net income and profit for the fourth quarter of 2022.
Total revenue increased 17% year over year to $5.50 billion in the fourth quarter. In fiscal 2022, the company raised $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 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 out this space to read management/analyst commentary on Charles Schwab’s Q4 2022 results
“Our focus on meeting the needs of individual investors and the advisors who serve them remains steadfast in any environment. This commitment to the consistency of our mission, services, and experience sets us apart, helping to drive our strong performance and maintaining our position as one of the most trusted names in services financial,” said Walt Bettinger, CEO of Charles Schwab.
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