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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)

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Results for SCHW
James P Worthy
31 Mar 15 15:35:21
$SCHW Fitch Affirms Charles Schwab Corp.'s Ratings at 'A/F1' http://t.co/hUGi2tl50v
invesders
31 Mar 15 12:30:07
Robinhood Small Account Challenge Update II http://t.co/KoBXMDc50W @Robinhood $OIL $VXX $PANW $CVX $MU $GPRO $SCHW $AAPL $MU $AXP
Lauren Holmes
31 Mar 15 10:43:58
$SCHW $IBKR or $ETFC we like online brokers if rates go up. Read our analysis here http://t.co/huaLsHpU2z
Bill KelleherCMT/CFA
31 Mar 15 10:37:52
RT @ArthurHill: Mark Dibble of Fidelity: a lot of long term megacap breakouts. $amgn $schw #beyondthebenchmark http://t.co/fdwa7S978Z
Quantcha
31 Mar 15 10:09:26
Price Target Alert: Trading the Zacks price target change for CHARLES SCHWAB $SCHW http://t.co/CIVfC6hCIU
invesders
31 Mar 15 09:11:48
We're on the sidelines here and predict we will be for the next couple days. Sold a lot of $PANW yesterday and now 65% cash. $SPY $VXX $SCHW
Irma Doucet
31 Mar 15 09:01:22
$SCHW Pay for Top Charles Schwab Corp Execs Fell 5-10 Percent in 2014 http://t.co/Lk7UHQTYwz
Andrew Parish
31 Mar 15 08:06:06
We asked a question about @CharlesSchwab and the critics came out of the woodworks http://t.co/6UMl0zU4mn #WealthManagment #broker $SCHW
OneChicago
31 Mar 15 06:55:02
$SCHW 20150417 Block Trade: 356 trade. ~$1.1 MM notional value.
Breaking News
31 Mar 15 06:03:10
$SCHW Deal pace remains steady as RIAs represent leading buyer category for second consecutive year http://t.co/l3LuaZ4PIb
NASDAQ
31 Mar 15 06:03:09
$SCHW - ‘Seller’s Market’ Continues for RIA Firms According to 2014 Merger and Acquisition Data from http://t.co/zg7WHk9Vwj
Market Int Center
31 Mar 15 05:41:38
Potential Schwab $SCHW Trade Has 5.43% Downside Protection ( http://t.co/b18wwjl4Xj )
SmallCaps
31 Mar 15 04:46:24
[Case Study] How A 24 yr old student Made $0.5 Million In 8 Months With Stocks http://t.co/Fv2ZjhWhEH $FOMX $DOX $SCHW $HBAN
iHangout
30 Mar 15 23:06:10
jim50: Xtremepicks Alerts: SCHW Gapped up +0.05 $SCHW Last Price 30.36 Day http://t.co/glDovMXBpU
iHangout
30 Mar 15 23:06:10
jim50: $SCHW Charles Schwab Corp.: SCHW Stock Gapped up +0.05 $SCHW Last Price 30.36 http://t.co/eypOcmOIb3
jim50
30 Mar 15 22:51:40
SCHW Gapped up +0.05 $SCHW Last Price 30.36 Day High 30.62 Day Low 30.29 Change +0.13 Volume 4,142,545 Today 4 http://t.co/LgmOSv971Y
jim50
30 Mar 15 22:51:18
$SCHW SCHW Stock Gapped up +0.05 $SCHW Last Price 30.36 Day High 30.62 Day Low 30.29 Change +0.13 Volume 4,142,545 T http://t.co/InUbdbXLeh
Capital Market Labs
30 Mar 15 14:58:16
Largest Diversified Financials Risk per Option Market 1. $ALLY 2. $BX 3. $SCHW Full Chart: http://t.co/20puaieM0J
dailystockplays.com
30 Mar 15 13:24:47
Elder Green http://t.co/jwSt7qpDWA $SFUN $XLP $PFE $MDLZ $HZNP $ADI $BABA $BSX $ARIA $DUST $DYN $OREX $HLT $XHB $SWKS $EA $ITB $HYG $SCHW
Lauren Holmes
30 Mar 15 12:07:02
$SCHW $IBKR or $ETFC we like online brokers if rates go up. Read our analysis here http://t.co/huaLsHpU2z
Michael Santoli
30 Mar 15 12:01:30
@cullenroche Guessing smaller ones figure the target customer sees Schwab as their dad's brand. (Merrill Direct didn't slow $SCHW growth.)
Penny Stock Secret
30 Mar 15 11:49:36
This Guy Is Making Millions! Watch This Video Proof Here At http://t.co/NovWYe2RAx .. $SCHW $SCI $SCL
Lauren Holmes
30 Mar 15 11:05:51
$SCHW $IBKR or $ETFC we like online brokers if rates go up. Read our analysis here http://t.co/huaLsH8iDZ
FlashRatingsHOT
30 Mar 15 09:26:36
$SCHW has 3 analyst ratings in the last 7 days and 66% are positive. Median target: $38 https://t.co/cgfXbamMr5 #SCHW
StockNewsWires
30 Mar 15 08:55:03
$SCHW: Dana's Guide To The Big Rip-Off In Municipal Bonds: http://t.co/9YyF3DwHZG
NoanetTrader
30 Mar 15 08:52:40
"@jessefelder: Going Robo: What\u2019s Schwab\u2019s Move Means for You http://t.co/LukHjn1YPI by @jasonzweigwsj $SCHW"
Income Investing SA
30 Mar 15 08:43:43
Dana's Guide To The Big Rip-Off In Municipal Bonds http://t.co/ufizfTUOUv $GTFBX $MUB $SCHW
Seeking Alpha
30 Mar 15 08:43:42
Dana's Guide To The Big Rip-Off In Municipal Bonds http://t.co/Spic9vyvC0 $GTFBX $MUB $SCHW
Market Int Center
30 Mar 15 08:43:12
Schwab $SCHW Trading Near $29.26 Support Level ( http://t.co/iKyZSj5Vhw )
Jesse Felder
30 Mar 15 07:05:56
Going Robo: What’s Schwab’s Move Means for You http://t.co/7aZXdq5Vbs by @jasonzweigwsj $SCHW
SogoTrade
30 Mar 15 06:54:32
Just released! SogoTrade’s Morning Call on Today’s Spotlight Stocks $SCHW $MCO, $EEM, $IGE, $ACN,$FB,$LFC... http://t.co/WRyr9vtwg0
SogoTrade Options
30 Mar 15 06:53:59
Just released! SogoTrade’s Morning Call on Today’s Spotlight Stocks $SCHW $MCO, $EEM, $IGE, $ACN, $FB, $LFC $CHA http://t.co/RQno2IcZVA
SogoTrade Options
30 Mar 15 06:53:16
Just released! SogoTrade’s Morning Call on Today’s Spotlight Stocks $SCHW $MCO, $EEM, $IGE, $ACN, $FB, $LFC $CHA http://t.co/RQno2IcZVA
Breaking News Now
30 Mar 15 06:45:06
$SCHW: Stock in Focus: Charles Schwab Corp (NYSE:SCHW): http://t.co/FYJDRl6lem
alpe pinnazzo
30 Mar 15 06:36:43
How Robo-Advisers Will Change Investing - Matthew Lynn http://t.co/c5qNQW7Erm $SCHW
ModernGraham
30 Mar 15 06:06:01
Charles Schwab Corporation Annual Valuation – 2015 $SCHW and Today's Valuations! - http://t.co/c0Kn4fktB7
Finance Weekly
30 Mar 15 06:04:13
RT @APadvisorhub: Is @CharlesSchwab misleading clients?? http://t.co/kjJmAehp4J #financial #finance $SCHW
Andrew Parish
30 Mar 15 06:03:47
Is @CharlesSchwab misleading clients?? http://t.co/kjJmAehp4J #financial #finance $SCHW
BreakingStocksNews
30 Mar 15 05:30:06
$SCHW: Charles Schwab Corp Receives Buy Rating from Deutsche Bank ...: http://t.co/Uog2qz1VIC
Ticker Report
30 Mar 15 05:25:27
Charles Schwab Corp Rating Reiterated by Deutsche Bank $SCHW http://t.co/nchv9nKWR8
Sleek Money
30 Mar 15 05:20:07
Deutsche Bank Reiterates Buy Rating for Charles Schwab Corp $SCHW http://t.co/hTeawO7xdR
US Consumer News
30 Mar 15 05:14:26
Charles Schwab Corp's buy rating reiterated at Deutsche Bank. $40.00 PT. http://t.co/BLDua6pFgO $SCHW #SCHW
Analyst Ratings
30 Mar 15 05:14:22
Charles Schwab Corp's buy rating reiterated at Deutsche Bank. $40.00 PT. http://t.co/E8FMwX1Ldr $SCHW #SCHW
ProTradersNews
30 Mar 15 05:05:05
$SCHW: Charles Schwab Receives a Buy from Deutsche Bank: http://t.co/XcGJPOdkO7
Breaking News Now
30 Mar 15 03:50:03
$SCHW: Charles Schwab Corp (NYSE:SCHW) Reduce Pay Packages Of Top ...: http://t.co/vCO3oaXYPT
Capital Market Labs
30 Mar 15 01:45:51
Largest Diversified Financials Risk per Option Market 1. $ALLY 2. $BX 3. $SCHW Full Chart: http://t.co/p5V8DkC0Y6
Capital Market Labs
30 Mar 15 01:26:04
Largest Diversified Financials Risk per Option Market 1. $ALLY 2. $BX 3. $SCHW Full Chart: http://t.co/20puaieM0J
SmallCaps
30 Mar 15 00:08:24
[Case Study] How A 24 yr old student Made $0.5 Million In 8 Months With Stocks http://t.co/Fv2ZjhWhEH $FOMX $DOX $SCHW $HBAN
ModernGraham
29 Mar 15 18:01:37
Charles Schwab Corporation Annual Valuation – 2015 $SCHW http://t.co/dxeRRrGwQp
SmallCaps
29 Mar 15 07:46:03
[Case Study] How A 24 yr old student Made $0.5 Million In 8 Months With Stocks http://t.co/Fv2ZjhWhEH $FOMX $DOX $SCHW $HBAN
				
				
  +Follow October 15, 2013 9:15AM
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