8-KEarnings & ResultsExhibits & Filings

SCHWAB CHARLES CORP 8-K Report, Financial Results (Oct 15, 2013)

Filed October 15, 2013For Securities:SCHWSCHW-PDSCHW-PJ

Summary

This 8-K filing from The Charles Schwab Corporation announces their financial results for the third quarter ended September 30, 2013. The report highlights significant year-over-year growth, with revenues increasing by 15% to reach their highest level in 13 years, and net income growing by 17%. This strong performance indicates robust business expansion and effective financial management during the period. Investors will be particularly interested in the substantial increase in core net new assets, which totaled $42.8 billion, marking a 97% surge compared to the previous year. This inflow of new assets underscores client confidence and the company's success in attracting and retaining assets under management, a key driver of long-term growth for a financial services firm like Schwab.

Key Highlights

  • 1Third quarter revenues rose 15%, reaching the highest level in 13 years.
  • 2Net income increased by 17% for the third quarter.
  • 3Core net new assets totaled $42.8 billion, a 97% increase year-over-year.
  • 4The press release announcing these results is furnished as Exhibit 99.1.
  • 5The filing was made on October 15, 2013, reporting on events up to October 14, 2013.
  • 6Joseph R. Martinetto, Executive Vice President and Chief Financial Officer, signed the report.

Frequently Asked Questions

For the third quarter ended September 30, 2013, Schwab reported a 15% increase in revenues, reaching their highest point in 13 years. Net income also saw a significant rise of 17%.

The company experienced substantial asset growth, with core net new assets totaling $42.8 billion, which represents a 97% increase year-over-year. This indicates strong client acquisition and asset retention.

The detailed financial results for the third quarter of 2013 were announced in a press release issued on October 15, 2013, which is furnished as Exhibit 99.1 to this Form 8-K filing.

This particular 8-K filing primarily reports on the completed financial results for the third quarter of 2013 and the press release announcing these results. It does not contain forward-looking statements or guidance.