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Charles Schwab Q3 Profit Rises 32%; Results Top Estimates

Financial services firm Charles Schwab Corp. (SCHW) reported Monday that net income available to common shareholders for the third quarter grew to $2.02 billion or $0.99 per share from $1.53 billion or $0.74 per share in the year-ago quarter.

Excluding items, adjusted earnings for the quarter were $1.10 per share, compared to $0.84 per share in the prior-year quarter.

Net revenues for the quarter grew 20 percent to $5.50 billion from $4.57 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.05 per share on revenues of $5.41 billion for the quarter. Analysts' estimates typically exclude special items.

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