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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
Bertha Coombs
6 Mar 15 07:44:11
$XLF Financials lead on rate hike expectations and make up most of all all-time list: $LNC $HBAN $PNC $SCHW $ETFC
Gabriel Haro
6 Mar 15 07:39:53
@WallStJesus $SCHW cheap Mar sweep here, 2000 Mar15 $31 C .45 " 2/17 ~> 🔥
iHangout
6 Mar 15 07:29:56
DennyT: Stock Charts: SCHW Stock 31.48 The Charles Schwab Corp $SCHW http://t.co/QXqsapDVzA
iHangout
6 Mar 15 07:29:49
DennyT: $SCHW Charles Schwab Corp.: SCHW 31.48 The Charles Schwab Corp $SCHW Hit a 52 http://t.co/lMIPS0QYmY
DennyT
6 Mar 15 07:26:53
SCHW Stock 31.48 The Charles Schwab Corp $SCHW Hit a 52 week high of 31.64 Closing the day 09:45 at 31.48 +1.2 http://t.co/oHejRV9Hcb
DennyT
6 Mar 15 07:26:32
$SCHW SCHW 31.48 The Charles Schwab Corp $SCHW Hit a 52 week high of 31.64 Closing the day 09:45 at 31.48 +1.27 +4.2 http://t.co/QcNhqVVuDA
v2 Ratings Bot
6 Mar 15 07:10:26
$SCHW still looks attractive (rated 7.9 as price is up to 31.53). Price vs ratings chart: http://t.co/73UNGJEd5A
Robert Lesnicki
6 Mar 15 07:09:00
Stump the Schwab. Nice break out in $SCHW http://t.co/5RxjOMd7Xm
EPS Trader
6 Mar 15 07:05:07
$SCHW is breaking out above $30.89 with positive earnings and a target of $36.35.
Trader Daily
6 Mar 15 07:02:38
Charles Schwab $SCHW Showing Signs Of Being A Momo Momentum Stock $SCHW http://t.co/eQKVzQw4bK
DontTakeLosses
6 Mar 15 07:01:22
$MET +3%, $PRU +3.3%, $LNC +4.1%, $AIG +1.4%, $HIG +2%, $ETFC +3.9%, $SCHW +4.4%, $AMTD +4.3%
Option Alert
6 Mar 15 07:00:19
Unusually heavy option volume on today's open include $ACN, $HBAN, $SCHW, $STI, and $HST.
E B
6 Mar 15 06:54:58
Brokers hot, $SCHW, $AMTD
Marco Di Dionisio
6 Mar 15 06:44:02
$SCHW lovely break out this morning. Nice looking chart http://t.co/awkPedbQo2
NewsHedge Squawk
6 Mar 15 06:37:35
$SCHW $UNM $NTRS $BXS RIPPING! via ~ @NewsHedge
Large Void Bot
6 Mar 15 06:35:13
New 52wk Highs: $COO $LTM $SCHW
Arthur Hill, CMT
6 Mar 15 04:56:11
$AMTD hit new high Monday. $EFTC hit new high Thursday. Is $SCHW next? http://t.co/J6r4ptk6VL
chartguy89
6 Mar 15 04:13:22
SCHW +1.14% Stock Charts $SCHW Charles Schwab Corp. (NYSE) Last Updated: 03/06/2015 06:13:22 SCHW Stock Chart http://t.co/0o00aSpUGa
ProTradersNews
6 Mar 15 01:11:07
$SCHW: EVP and Chief Admin Officer of Charles Schwab Corp Discloses ...: http://t.co/Aakju9O5k0
BreakingStocksNews
5 Mar 15 16:02:02
$SCHW: Japan Futures Rise on Yen as Euro Holds Near 11-Year Low: http://t.co/DcR4UM0ujx
teevee
5 Mar 15 13:25:51
$SCHW surged in February and then consolidated the last few weeks with an ascending triangle, which is a bullish continuation pattern, + tda
teevee
5 Mar 15 13:23:32
$SCHW surged in February and then consolidated the last few weeks with an ascending triangle, which is a bullish continuation pattern
John W. Green JW
5 Mar 15 13:14:56
RT @stockchartscom: Arthur Hill: Schwab Goes for Continuation Break as Volume Indicator Leads $SCHW http://t.co/bYNvLY01e7
Arthur Hill, CMT
5 Mar 15 13:13:34
$SCHW - forming small ascending triangle with signs of accumulation - here's the chart http://t.co/J6r4ptk6VL
StockCharts.com
5 Mar 15 13:10:37
Arthur Hill: Schwab Goes for Continuation Break as Volume Indicator Leads $SCHW http://t.co/bYNvLY01e7
leahanne
5 Mar 15 10:29:25
Volume Alert - SCHW 29.87 The Charles Schwab Corp $SCHW Hit a high today of 29.89 Closing the day 10:30 at 29. http://t.co/tQ38hc4hMT
leahanne
5 Mar 15 10:29:03
$SCHW Volume Alert - SCHW Stock 29.87 The Charles Schwab Corp $SCHW Hit a high today of 29.89 Closing the day 10:30 http://t.co/7H6fIRjeCZ
				
				
  +Follow October 15, 2013 9:15AM
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