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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
Scotts Investments
26 Jan 15 16:46:56
RT @ETFtrends: Schwab’s Commission-Free ETF Lineup Grows to Nearly 200 http://t.co/8Tk8OaGiDc #ETFs #costs #onesource $SCHW $IBLN $DWAS $PI…
Trading Derivatives
26 Jan 15 16:05:06
RT @ETFtrends: Schwab’s Commission-Free ETF Lineup Grows to Nearly 200 http://t.co/8Tk8OaGiDc #ETFs #costs #onesource $SCHW $IBLN $DWAS $PI…
SmallCaps
26 Jan 15 16:05:01
[Case Study] How A 24 yr old student Made $0.5 Million In 8 Months With Stocks http://t.co/Fv2ZjiN52T $FOMX $DOX $SCHW $HBAN
ETF Trends
26 Jan 15 15:50:09
Schwab’s Commission-Free ETF Lineup Grows to Nearly 200 http://t.co/8Tk8OaGiDc #ETFs #costs #onesource $SCHW $IBLN $DWAS $PIE $LOWC $USDU
Tom Lydon
26 Jan 15 15:45:13
Schwab’s Commission-Free ETF Lineup Grows to Nearly 200 http://t.co/E1TAnVyKcu #ETFs #costs #onesource $SCHW $IBLN $DWAS $PIE $LOWC $USDU
StockWizard
26 Jan 15 13:00:47
RT @evranic: @unemon1 I guess he's not waiting around for that $FXCM buy out by $SCHW now is he?
Edward Vranic, CFA
26 Jan 15 13:00:08
@unemon1 I guess he's not waiting around for that $FXCM buy out by $SCHW now is he?
Market Int Center
26 Jan 15 09:22:02
Schwab $SCHW Trading Near $27.91 Resistance Level ( http://t.co/MCRtXowQ16 )
ProVesting
26 Jan 15 08:41:06
$SCHW: Schwab's Commission-Free ETF Lineup Grows to Nearly 200: http://t.co/C03PMrXGQI
Melissa Nacerino
26 Jan 15 08:23:59
Is Your Online Stock Account Safe From Cyberthieves? http://t.co/VBiADTGGR5 #IBDNews via @IBDinvestors $AMTD $JPM $CYBR $SCHW $PANW
Analyst Ratings
26 Jan 15 07:12:42
Want the latest analyst ratings on $PFSI $BXMT $BEP $SCHW $SCHW? Get Them Delivered to Your Inbox http://t.co/nSJuDtP5Bv
Lauren Holmes
26 Jan 15 07:09:04
Go On Sale in January $XLF $BAC $C $JPM $MS $RF $KEY $PNC $BK $COF $DFS $MET $AIG $PRU $SCHW Get our thoughts here http://t.co/VrsGMCgPOC
Sleek Money
26 Jan 15 07:04:45
Charles Schwab Corp Receives Consensus Rating of “Hold” from Analysts $SCHW http://t.co/XuWW48ItlY
PennyStock Zone
26 Jan 15 06:10:40
Tip #4 How to identify a HOT trading SECTOR? http://t.co/cFuOlMXLZp $AMTD $SF $AAWW $STWD $FOMX $DOX $SCHW $HBAN
Breaking News
26 Jan 15 05:34:59
$SCHW Schwab ETF OneSource™ Expands to Offer Investors Nearly 200 Commission-Free ETFs http://t.co/lecGwrujwu
NASDAQ
26 Jan 15 05:30:54
$SCHW - Schwab ETF OneSource™ Expands to Offer Investors Nearly 200 Commission-Free ETFs http://t.co/NedIRJiA5z
Rosner Stocks
25 Jan 15 23:56:24
Stocks Trending Now: http://t.co/0kBSoPZVDp $BTVCY $XLGLF $WMB $LZAGF $GPOVY $ANGUF $MJTK $FYFFF $NVDL $SCHW $ANGUF $TNMAF ~
Clark Joseph Kent
25 Jan 15 09:48:14
Financials Go On Sale in January $XLF $BAC $C $JPM $MS $RF $KEY $PNC $BK $COF $DFS $MET $AIG $PRU $SCHW #SeekingAlpha http://t.co/iJLucyOjxq
SmallCaps
25 Jan 15 09:27:11
[Case Study] How A 24 yr old student Made $0.5 Million In 8 Months With Stocks http://t.co/Fv2ZjiN52T $FOMX $DOX $SCHW $HBAN
ProVesting
25 Jan 15 07:56:04
$SCHW $FXCM: Morningstar Analyst Sees Charles Schwab-FXCM Buyout As ...: http://t.co/Q8kqjfgUnK
PennyStock Zone
24 Jan 15 18:30:36
Tip #4 How to identify a HOT trading SECTOR? http://t.co/cFuOlMXLZp $AMTD $SF $AAWW $STWD $FOMX $DOX $SCHW $HBAN
SmallCaps
24 Jan 15 08:45:44
[Case Study] How A 24 yr old student Made $0.5 Million In 8 Months With Stocks http://t.co/Fv2ZjiN52T $FOMX $DOX $SCHW $HBAN
Geng Hu
24 Jan 15 07:39:05
Apple Watch The Next Platform For Mobile Investing http://t.co/KwkyOYDgZH #IBDNews via @IBDinvestors $AAPL $AMTD $ETFC $SCHW
Zamberi FX
23 Jan 15 21:43:10
Is Your Online Stock Account Safe From Cyberthieves? http://t.co/LFy5iZcHSU #IBDNews via @IBDinvestors $AMTD $JPM $CYBR $SCHW $PANW
Swing Trade Alert
23 Jan 15 17:24:45
THEFLYNEWS:E-Trade rallies after Q4 results beat estimates, capital plan approved $ETFC $SCHW $AMTD $IBKR: Full Story http://t.co/TplAep9p29
ProVesting
23 Jan 15 16:16:06
$SCHW: Schwab Among Top 5 Online Brokers For 3rd Year In A Row SCHW: http://t.co/TSuYO3IGBP
ProTradersNews
23 Jan 15 16:16:06
$SCHW $AMTD $IBKR: Top Online Brokers: At TradeStation, Tech Is King And Tools Rule: http://t.co/AUI5py321W
StockNewsWires
23 Jan 15 16:16:05
$MKTX $SCHW: Which Are The Top Brokerage Stocks To Invest In? MKTX AMTD ...: http://t.co/Tij0U8eAeo
ProVesting
23 Jan 15 16:16:05
$SCHW $AMTD: Best Stock Brokers: Top 5 For Investor Satisfaction SCHW AMTD BAC: http://t.co/2mnHUDGKXG
ProTradersNews
23 Jan 15 16:16:04
$IBKR $SCHW: ETF Choices, Low Trading Fees Make Best Stock Brokers A Hit: http://t.co/FCghlZwgou
ProVesting
23 Jan 15 16:16:04
$SCHW: Stock Brokers Have Vast Offerings For Option Traders SCHW AMTD: http://t.co/Qql1mJTBOA
StockNewsWires
23 Jan 15 16:01:03
$SCHW $AMTD: The Best Online Brokers In '15: http://t.co/JJgWXlfTRH
Thomas Collins
23 Jan 15 15:03:32
$SCHW Former GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout ... http://t.co/1a4TXpMMEh
Bull Logic
23 Jan 15 13:12:49
RT @Benzinga: ICYMI...This former GFT exec says the $SCHW $FXCM buyout rumor "absolutely makes sense" http://t.co/iQJgbkFkfD
Benzinga.com
23 Jan 15 13:11:35
ICYMI...This former GFT exec says the $SCHW $FXCM buyout rumor "absolutely makes sense" http://t.co/iQJgbkFkfD
Mauricio Carrillo
23 Jan 15 13:08:32
Citi price target for $FXCM is $0.75; rumors says Charles Schwab $SCHW to bid for $5.25/Share; Options activity jumps http://t.co/iEaS5DilCh
Daily Contracts
23 Jan 15 12:44:15
Real-Time feed of company contracts, original agreements and executive updates from Charles Schwab Corporation $SCHW http://t.co/oegeN9ASkg
InsanelyGoodLooking
23 Jan 15 12:38:03
RT @LaMonicaBuzz: Not even a rumor that $SCHW may want to buy $FXCM is enough to save the troubled currency broker today. $FXCM down 30%.
Paul R. La Monica
23 Jan 15 12:36:03
Not even a rumor that $SCHW may want to buy $FXCM is enough to save the troubled currency broker today. $FXCM down 30%.
Edward Vranic, CFA
23 Jan 15 12:21:28
So who should bagholders be angry at for false $FXCM $SCHW rumors? Shorts for calling it out as a joke or pumpers who perpetuated the lie?
ProTradersNews
23 Jan 15 12:01:05
$SCHW $FXCM: Morningstar Analyst Sees Charles Schwab-FXCM Buyout As ...: http://t.co/6bnyObtOHI
Benzinga.com
23 Jan 15 11:35:40
Morningstar Analyst Sees $SCHW $FXCM Buyout As 'Revenue Diversifying,' But 'Counter To Charles Schwab Image' http://t.co/1nV9epVsGN
Hammer D. Lane
23 Jan 15 11:15:29
$SCHW ? No Clue,....http://t.co/pd4oDUC1aT
Market Int Center
23 Jan 15 10:04:31
Schwab $SCHW Showing Bearish Technicals With Support At $25.60 ( http://t.co/AE7c4IMmIB )
Josh Kallan
23 Jan 15 09:24:18
RT @Benzinga: Former GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout Rumor 'Absolutely Makes Sense' http://t.co/B7npNblP5i $FXCM…
Piters
23 Jan 15 09:20:39
RT @Benzinga: Former GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout Rumor 'Absolutely Makes Sense' http://t.co/B7npNblP5i $FXCM…
Piters
23 Jan 15 09:20:39
RT @Benzinga: Former GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout Rumor 'Absolutely Makes Sense' http://t.co/B7npNblP5i $FXCM…
budfoxhub
23 Jan 15 09:19:49
RT @Benzinga: Former GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout Rumor 'Absolutely Makes Sense' http://t.co/B7npNblP5i $FXCM…
Benzinga.com
23 Jan 15 09:18:06
Former GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout Rumor 'Absolutely Makes Sense' http://t.co/B7npNblP5i $FXCM $SCHW
paully
23 Jan 15 09:13:58
GFT Manager Of Global Risk Says Charles Schwab-FXCM Buyout Rumor 'Absolutely Makes Sense' $FXCM $SCHW http://t.co/8XYB0x0B1V
				
				
  +Follow October 15, 2013 9:15AM
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