Schwab's (SCHW) Q4 Earnings Top Estimates, Revenues Down Y/Y

Charles Schwab’s (SCHW) fourth-quarter 2023 adjusted earnings of 68 cents per share beat the Zacks Consensus Estimate of 65 cents. The bottom line, however, declined 36% from the prior-year quarter.Shares of the company lost 1% in pre-market trading on top-line weakness.Results benefited from the solid performance of the asset management business. The absence of fee waivers and solid brokerage account numbers acted as tailwinds during the quarter. However, lower revenues due to higher funding costs and lowe ...