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Charles Schwab Q1 Profit Misses Estimates

The Charles Schwab Corporation (SCHW) posted first quarter adjusted earnings per share of $0.77 compared to $0.84, a year ago. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.84, for the quarter. Analysts' estimates typically exclude special items.

Net profit declined to $1.40 billion or $0.67 per share compared to profit $1.48 billion or $0.73 per share.

First quarter net revenues declined to $4.67 billion from $4.72 billion, prior year. Analysts on average had estimated $4.83 billion in revenue.

Shares of The Charles Schwab Corporation were down 5% in pre-market trade on Monday.

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