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Charles Schwab Q3 Profit Tops View

Charles Schwab Corp. (SCHW) reported that its third-quarter net income available to common stockholders climbed to $1.41 billion or $0.74 per share from $615 million or $0.48 per share last year.

Adjusted net income available to common stockholders was $1.60 billion or $0.84 per share compared to $666 million or $0.51 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share. Analysts' estimates typically exclude special items.

Total net revenues for the quarter grew to $4.57 billion from $2.45 billion in the prior year. Analysts expected revenues of $4.52 billion for the third-quarter.

Core net new assets rose 28% sequentially to $139.0 billion.

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