8-KEarnings & ResultsExhibits & Filings

SCHWAB CHARLES CORP 8-K Report, Financial Results (Apr 15, 2014)

Filed April 15, 2014For Securities:SCHWSCHW-PDSCHW-PJ

Summary

The Charles Schwab Corporation filed an 8-K on April 15, 2014, to report its financial results for the first quarter ended March 31, 2014. The filing primarily directs investors to a press release (Exhibit 99.1) that details these results. According to the press release, Schwab experienced significant year-over-year growth, with net income increasing by 58% and revenues rising by 15%. This strong performance was accompanied by record client assets, which reached $2.31 trillion. This indicates substantial client trust and asset growth, a positive sign for the company's ongoing business momentum. Investors should review the furnished press release for a comprehensive understanding of the quarter's financial performance, including specific revenue drivers and expense details.

Key Highlights

  • 1The Charles Schwab Corporation announced its first quarter 2014 financial results on April 15, 2014.
  • 2Net income for the quarter increased by 58% compared to the same period in the previous year.
  • 3Total revenues rose by 15% year-over-year.
  • 4Client assets under management reached a record high of $2.31 trillion.
  • 5The 8-K filing incorporates a press release (Exhibit 99.1) containing the detailed financial results.
  • 6The Chief Financial Officer, Joseph R. Martinetto, signed the report, confirming the accuracy of the disclosed information.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the financial results of The Charles Schwab Corporation for the first quarter ended March 31, 2014, and to provide investors with access to the press release that details these results.

According to the press release furnished with the 8-K, Schwab reported a significant 58% increase in net income and a 15% rise in revenues compared to the first quarter of the prior year. Client assets also reached a record high of $2.31 trillion.

Detailed information is available in the press release dated April 15, 2014, titled 'Schwab Reports First Quarter Net Income Up 58% Year-Over-Year – Revenues Rise 15% From a Year Ago – Client Assets Reach a Record $2.31 Trillion', which is included as Exhibit 99.1 to this 8-K filing.

The report is signed by Joseph R. Martinetto, Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation, attesting to the accuracy and completeness of the disclosed information.