- Net income of $319M up 51% Y/Y on revenue of $1.435B up 18%. Pre-tax profit margin of 34.7% compares to 28.3% a year ago. ROE of 13% vs. 9%.
- CEO Walt Bettinger: "After a long period of progress masked by environmental headwinds, our standout financial performance in 2013 more clearly reflected the significant growth we've achieved with our through clients eyes strategy."
- Core net new assets of $140.8B up 25% Y/Y. 9.1M active brokerage accounts and 916K banking accounts, up 3% and 6%, respectively.
- CFO Joe Martinetto notes the firm's gains come even without much change in the interest rate environment which continues to put a hamper on earnings. Money market fund fee waivers of 182M compare to $142M a year ago (this on total firm net income of $319M for the Q).
- Press release, Q4 results
- SCHW +3% premarket
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From other sites
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at Nasdaq.com (Feb 4, 2015)
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