Charles Schwab Posts Stronger Profit, Revenue
October 15 2018 - 9:24AM
Dow Jones News
By Allison Prang
Charles Schwab Corp.'s (SCHW) profit rose 49% in the third
quarter, as expenses rose at a slower pace than total net
revenue.
The company reported earnings of $923 million, up from $618
million for the comparable quarter a year ago. Charles Schwab said
earnings per share were 65 cents, up from 42 cents. Analysts polled
by Refinitiv were expecting earnings of 65 cents a share.
Total net revenue increased 19% to $2.58 billion, which is what
analysts polled by Refinitiv were anticipating.
Shares, down 4.6% year to date, rose 1% in premarket
trading.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 15, 2018 09:09 ET (13:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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