economy, including rising inflation and the Fed’s corresponding shift to an aggressive tightening stance, ongoing geopolitical turmoil driven by the war in Ukraine, and more-volatile equity markets that are now in bear-market territory. Clients remained engaged during the second quarter even as pressures mounted on the U.S. Note: All per-share results are rounded to the nearest cent, based on weighted-average diluted common shares outstanding.įurther details on non-GAAP financial measures and a reconciliation of such measures to GAAP reported results are included on pages 10-11 of this release.ĬEO Walt Bettinger said, “Throughout the first half of 2022, we’ve kept our focus on serving clients and they’ve rewarded us with sustained strength in business momentum and growth. Return on tangible common equity (annualized) (1) Return on average common stockholders’ equity (annualized) In addition, the company’s second quarter of 2021 included a charge of approximately $200 million, or $.10 per share, regarding a now settled regulatory matter.
During the quarter, acquisition and integration-related costs and the amortization of acquired intangibles totaled $94 million and $154 million, respectively, on a pre-tax basis. Net income for the six months ended Jwas $3.2 billion, compared with $2.7 billion for the year-earlier period. The Charles Schwab Corporation announced today that its net income for the second quarter of 2022 was a record $1.8 billion compared with $1.4 billion for the first quarter of 2022, and $1.3 billion for the second quarter of 2021.
Sustained client focus helps power continued strong business momentum
Quarterly net income also reaches new highs of $1.8 billion GAAP, $2.0 billion adjusted (1)
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