Schwab Reports Monthly Activity Highlights; Core Net New Assets Brought To The Company By New And Existing Clients Totaled $21.7B; Total Client Assets Were $8.18T As Of Month-End November, Up 12% YoY
Portfolio Pulse from Benzinga Newsdesk
The Charles Schwab Corporation (SCHW) reported its Monthly Activity Report for November 2023, highlighting a total of $21.7 billion in core net new assets from clients, and an increase in total client assets to $8.18 trillion, up 12% year-over-year. Transactional sweep cash rose by $5.0 billion, the largest monthly increase since March 2022. Despite these gains, SCHW anticipates a full-year 2023 revenue decline of 9.5% to 10.0% due to lower transactional cash levels, reduced client trading volumes, and decreased securities lending activity.
December 14, 2023 | 1:47 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Charles Schwab reported strong asset growth but anticipates a revenue decline for 2023, which may concern investors about future profitability.
The report indicates a significant increase in client assets and transactional sweep cash, which is positive. However, the projected revenue decline is a negative signal that could outweigh the positive asset growth in the short term, potentially leading to a decrease in stock price as investors adjust their expectations for the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100