Charles Schwab, One Of Nation’s Largest Brokers, Nabs $2.4 Billion In Revenues Despite Commission-Free Trading And Historically Low Interest Rates

SectorFinancial Markets
CountryMiddle east

Topline Despite headwinds from a push to commission-free trading announced last October and historically low interest rates, brokerage Charles Schwab reported an earnings beat on Thursday morning, adding to a mixed bag of big bank earnings that have failed to keep markets afloat. Walter Bettinger, president and chief executive officer of Charles Schwab Corp. Â © 2013 Bloomberg Finance LP Key Facts San Francisco-based Charles Schwab reported revenues in line with Wall Street expectations, nabbing about $2.4 billion in the quarter–about 10% more than in the same period a year ago. Net income attributable to shareholders, meanwhile, totaled $698 million, or 51 cents per share, beating analyst estimates of 46 cents per share more...