Charles Schwab (NYSE:SCHW) stock slid by 2.3% in Wednesday premarket trading as Q4 earnings and revenue missed Wall Street expectations as trading activity fell during a stock market slump.
Q4 adjusted EPS of $1.07, vs. $1.09 consensus, fell from $1.10 in Q3 and climbed from $0.86 in Q4 2021.
Revenue of $5.50B, vs. $5.55B consensus, were flat with Q3 and rose from $4.71B in the year-ago quarter.
Net interest revenue of $3.03B vs. $2.93B in Q3 and $2.14B in Q4 2021.
Asset management and administration fees were $1.05B, flat from the prior quarter and down from $1.11B in the year-ago quarter.
Trading revenue of $895M slid from $930M in the prior quarter and $1.02B in the year-ago quarter.
Daily average trading volume was 5.4M vs. 5.5M in Q3.
Total client assets were $7.05T at year end, up from vs. $6.6T at Sept. 30, 2022.
Total expenses, excluding interest, increased to $2.90B from $2.80B in Q3 and $2.69B in Q4 2021.
Schwab (SCHW) will hold its Winter Business Update for institutional investors on Jan. 27.
Earlier, Charles Schwab (SCHW) non-GAAP EPS of $1.07 misses by $0.02, revenue of $5.49B misses by $60M