Charles Schwab's stock plummeted 5.39% during intraday trading on Thursday, as investors reacted negatively to the company's latest quarterly financial results.

The decline followed the release of Schwab's first-quarter earnings report, which presented a mixed picture. The company reported adjusted earnings per share of $1.43, beating the Wall Street consensus estimate of $1.40. However, net revenue of $6.48 billion fell short of the $6.50 billion analysts had anticipated.

This revenue miss, despite the earnings beat, prompted significant selling pressure. The market's reaction highlights investor focus on top-line growth and concerns over the company's revenue trajectory amidst the current economic environment.