(Schwab) Charles Schwab reported a net profit of $1.4 billion in the first quarter of 2022, down from a profit of $1.5 billion in the first quarter of 2021. The income is also below $1.6 billion in Q4 2021.
The company’s GAAP diluted earnings per share was $0.67, down by 8% from the prior year.
Schwab said that its net revenue in the first quarter totaled $4.67 billion, a decline of 1% from the prior year.
The company said its Core Net New Assets totaled $120.5 billion in the first quarter. Total clients’ assets finished the quarter at $7.86 trillion, an increase of 11% from the prior year.
Schwab said it ended the first quarter with 33.6 million active brokerage accounts, an increase of 5% from the previous year.
SCHW: NYSE is down -11.71%
