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Charles Schwab (SCHW) Beats Q3 Income and Revenue Expectations

  +Follow October 15, 2013 9:15AM
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Shares of brokerage and investment firm Charles Schwab Corp. ($SCHW) were up over 7 percent in early trading after issuing a before-the-bell third quarter earnings report that showed the company beat both revenue and profit estimates for the quarter.

The San Francisco-based discount brokerage house saw revenues rise nearly 15 percent from the same quarter last year. Sterne Agee analysts Jason Weyeneth and Alex Levine attributed the revenue increase to reigned-in spending and stronger than anticipated interest income.

Weyenth and Levine did caution, however, that the market might be acting a little too exuberantly concerning the beat, and expressed concern over Charles Schwab’s “stretched valuation.” Following the earnings report, shares of the company rose to their highest level since before the Great Recession.

CFO Joe Martinetto said the company is keeping outlook for the rest of the year unchanged, “assuming an ongoing economic recovery.” Marnietto continued: “We expect our 2013 revenue growth will outpace expenses by approximately 100 to 200 basis points, helping us to achieve a pre-tax profit margin of at least 30% and earnings per share in the mid-$.70s for the year.”

For the third fiscal quarter, Charles Schwab reported net income of $282 million, or $0.22 per share, versus the $238 million, or $0.19 per share, from the same period a year ago. Revenue for the quarter was $1.37 billion, as compared to $1.34 million from the previous year. Analysts were expecting a profit of $0.10 per share on revenues of $1.34 billion.

After spiking in early trading, shares of Charles Schwab corrected slightly, and were trading at $23.26 a share midday, for a gain of 5.68 percent. Charles Schwab is up 45.95 percent on the year.

 

(image courtesy of Flickr)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SCHW
Alpha Maven Alerts
16 Sep 14 21:07:51
$SCHW, Positive, Yesterday, SD +2.07, #NYSE #OilGas
Captain Tommy
16 Sep 14 16:14:12
$AMTD #unusualoptionsactivity Huge imbalance Nov 36 call OI 30224 vs puts, 12. No position. I am bullish on $ETFC, $SCHW also
TwentyOne
16 Sep 14 13:30:46
$SCHW pocket pivot as it consolidates at breakout area. 3rd pocket pivot in 5 days
NASDAQ
16 Sep 14 09:58:11
$SCHW - Statement of Changes in Beneficial Ownership (4) http://t.co/9FHVWVdzgj
12Stocks.com
16 Sep 14 08:52:30
S&P500 #Stocks Trend $HUM $GMCR $BBY $ETFC $HSY $STI $SCHW $PRU $VFC $WFC $HBAN $CVS $BAC $NOC $PGR $CMA $GHC @ http://t.co/RPeaHBZz9y
CW_McNally
15 Sep 14 12:21:48
Price/Vol. analysis $SPY #trendfollowing #trade #trend in these #tickers long $WIN $RSG $JCP $IVZ $SCHW $MS $GPK $NOK http://t.co/xtJvNDyFgH
Stock Moo
15 Sep 14 07:00:18
$schw: Schwab Reports Monthly Activity Highlights http://t.co/F8R4WTou2Z
freezedried mule
15 Sep 14 06:01:39
RT @MarketCurrents: Schwab trading slowdown echoes E*Trade and Ameritrade http://t.co/xYgjW9SyiZ #premarket $SCHW
MarketCurrents
15 Sep 14 05:59:22
Schwab trading slowdown echoes E*Trade and Ameritrade http://t.co/xYgjW9SyiZ #premarket $SCHW
NASDAQ
15 Sep 14 05:47:03
$SCHW - Schwab Reports Monthly Activity Highlights http://t.co/iKgZHlyejZ
BV Financials
15 Sep 14 05:45:09
$SCHW Schwab Reports Monthly Activity Highlights.. http://t.co/v3sQ9I0K56
12Stocks.com
15 Sep 14 03:02:55
Weekly S&P500 #Stocks Trend $YHOO $ETFC $BAC $ICE $BBY $CME $ABBV $LUV $LM $SCHW $TGT $HSY $RF $STT $NOC $GS @ http://t.co/RPeaHBZz9y
Stock Signaling
15 Sep 14 00:31:19
Movers and Shakers: Recently Upgraded: $LULU $XPO $AMTD $NOR $CCL $TMUS $COH $NFLX $S $MBI $JDSU $SCHW $AU $WFC $HIG http://t.co/Vtx6dLy0Nw
Erik Grywalski
14 Sep 14 21:48:49
$IBKR also broke out of an 8 month base to compliment $SCHW. $ETFC & $AMTD are mature $XBD bases that look ready to BO next.
Alpha Maven Alerts
14 Sep 14 12:57:04
$SCHW, Positive, Yesterday, SD +2.07, #NYSE #OilGas
edwardrooster
14 Sep 14 07:50:43
http://t.co/c3L0Xkis4A Trades in 60 Seconds for 9/15/2014 $DO $ESV $FHN $FMC $GS $KSS $LUV $MS $PCL $RIG $SCHW $SNY
erica
14 Sep 14 06:29:51
“@SAlphaETF: Fortune's 'Buy And Forget' Portfolio (14 Years Later) http://t.co/osyEA9RH3P $BRCM $ETF $MS $NOK $ORCL $SCHW $VIA”#Fortune
edwardrooster
13 Sep 14 12:36:15
Trades in 60 Seconds: $DO $ESV $FHN $FMC $GS $KSS $LUV $MS $PCL $RIG $SCHW $SNY - edwardmarkets: Trades in... http://t.co/Fe8odF10rJ
suriNotes
13 Sep 14 09:04:45
Chart Patterns in Brokerage Stocks ($AMTD, $SCHW, $ETFC, $IBKR) http://t.co/0YnVtyCzn9
12Stocks.com
13 Sep 14 03:02:47
Weekly S&P500 #Stocks Trend $YHOO $ETFC $BAC $ICE $BBY $CME $ABBV $LUV $LM $SCHW $TGT $HSY $RF $STT $NOC $GS @ http://t.co/RPeaHBZz9y
ham4321
13 Sep 14 00:03:49
There were only 6 new highs in the S&P 500 today: $GS, $ODP, $MTB, $SCHW, $VFC and $YHOO. http://t.co/BfyDQShSIn
12Stocks.com
12 Sep 14 16:02:47
S&P500 #Stocks Trend $YHOO $BBY $CME $ICE $ETFC $VFC $A $HBAN $PRU $CMA $FSLR $STT $GPC $BAC $GS $ZION $SCHW @ http://t.co/RPeaHBZz9y
howardlindzon
12 Sep 14 15:48:56
RT @StockTwits: There were only 6 new highs in the S&P 500 today: $GS, $ODP, $MTB, $SCHW, $VFC and $YHOO. http://t.co/LSfnnRYdlp
John Michael
12 Sep 14 13:53:42
RT @StockTwits: There were only 6 new highs in the S&P 500 today: $GS, $ODP, $MTB, $SCHW, $VFC and $YHOO. http://t.co/LSfnnRYdlp
Yellen's Yodel ™
12 Sep 14 13:51:01
@CthruHD $LUV - HIGH $MHFI - HIGH $MS - HIGH $MSFT - HIGH $MTB - HIGH $PCL - LOW $RIG - LOW $RRC - LOW $SCHW - HIGH $THC - HIGH $TWC - HIGH
StockTwits
12 Sep 14 13:49:55
There were only 6 new highs in the S&P 500 today: $GS, $ODP, $MTB, $SCHW, $VFC and $YHOO. http://t.co/LSfnnRYdlp
12Stocks.com
12 Sep 14 13:00:24
S&P500 #Stocks Trend $YHOO $BBY $ICE $CME $ETFC $PRU $CMA $VFC $FSLR $LUV $BAC $A $STT $SCHW $GS $HBAN $RF @ http://t.co/RPeaHBZz9y
troytrad3r
12 Sep 14 12:42:46
Strong uptrend stocks $ACT $YHOO $SCHW $VFC $ARUN $LOCO $CALM $OILT $XPO $LUV $FSLR
Daily Contracts
12 Sep 14 11:47:01
Real-Time feed of company contracts, original agreements and executive updates from Charles Schwab Corporation $SCHW http://t.co/oegeN9jhcc
Woll Street
12 Sep 14 11:07:23
@JaylKlK A good play.. $AMTD $ETFC $ICE $SCHW bullish charts..
Ian Dominguez
12 Sep 14 10:45:28
$IBKR also has ample runway. 268k accounts = 1/35 $SCHW, 1/25 $AMTD, 1/12 $ETFC. How is it growing so fast? ASIA 1/n
Ian Dominguez
12 Sep 14 10:45:01
$IBKR has been rated #1 electronic brokerage 3 years. Reasons: platform, 1/3 commissions and 1/4 margin rate vs. $SCHW $AMTD $ETFC 1/n
OneChicago
12 Sep 14 10:22:02
$SCHW Sep Block Trade: 1048 trade. ~$3.1 MM notional value.
WallStreet
12 Sep 14 10:14:08
Emerging Stories: $SCHW, $FCEL, $EFOI, $TASR - - http://t.co/IgRUKN6ZgC
Sleek Money
12 Sep 14 08:54:51
Deutsche Bank Raises Charles Schwab Corp Price Target to $36.00 $SCHW http://t.co/EKGHJbB8fN
Bret Kenwell
12 Sep 14 07:11:52
RT @silverlots: I received an IPO allocation $TWTR from $SCHW, but they did not receive a $BABA allocation = high institutional demand $SPY…
Barry Scott
12 Sep 14 07:07:21
I received an IPO allocation $TWTR from $SCHW, but they did not receive a $BABA allocation = high institutional demand $SPY $YHOO $WB $QQQ
Large Void Bot
12 Sep 14 06:32:12
New 52wk Highs: $ABBV $HCA $SCHW $WWAV
Richard-Trading
12 Sep 14 04:49:03
$SCHW in a breakout mode. Bullish trade opportunity.
Stock Signaling
11 Sep 14 14:31:42
Upgraded Stocks Trading in a New Range: $VSI $CYS $NDLS $AAWW $PXD $SEAS $JDSU $ONTY $ARC $AUXL $GSJK $CPE $HIG $PKY $SCHW #nyse #mkt #dow
Yellen's Yodel ™
11 Sep 14 13:48:34
@CthruHD $MAR - HIGH $MCO - HIGH $MHFI - HIGH $MSFT - HIGH $MTB - HIGH $RIG - LOW $SCHW - HIGH $THC - HIGH $TWC - HIGH
Stock Signaling
11 Sep 14 12:31:25
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Stock Signaling
11 Sep 14 11:31:21
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Stock Signaling
11 Sep 14 10:01:06
25 Stocks To Watch: http://t.co/Vtx6dLy0Nw : $CYS $AAWW $AUXL $VRA $MBI $TS $JDSU $TWTR $HUN $NDLS $TPLM $CPE $HIG $SCHW $SGMS #trader #spy
Mark Newton
11 Sep 14 09:48:56
Stocks of TECHNICAL interest today on #LONG side: $MTB, $PII, $ENR, $NKE, $UAL, $MCO, $MHFI, $VAR, $WM, $SCHW - Bullish for 5-7 trad days
WKRB News
11 Sep 14 09:35:22
Charles Schwab Corp Receives Buy Rating from Deutsche Bank $SCHW http://t.co/C3A7sAsCau
US Banking News
11 Sep 14 09:27:00
Charles Schwab Corp Rating Reiterated by Deutsche Bank $SCHW http://t.co/xbRsIPZhjV
Analyst Ratings
11 Sep 14 09:20:29
Charles Schwab Corp's buy rating reiterated at Deutsche Bank. $36.00 PT. http://t.co/l5dYVaecXw $SCHW #SCHW
US Consumer News
11 Sep 14 09:19:30
Charles Schwab Corp's buy rating reiterated at Deutsche Bank. $36.00 PT. http://t.co/Yy7H2mV847 $SCHW #SCHW
12Stocks.com
11 Sep 14 08:52:19
S&P500 #Stocks Trend $IP $BAC $BBBY $CMCSA $TGT $TWC $RTN $SCHW $NOC $ZMH $ETFC $THC $EW $STI $LUV $ABBV $COV @ http://t.co/RPeaHBZz9y
				
				
  +Follow October 15, 2013 9:15AM
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