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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
Hurricane Capital
30 Aug 15 07:32:03
#TheBrooklynInvestor: The Charles Schwab Corporation (SCHW) #SCHW $SCHW #charlesswab #investing http://t.co/hpOMXpBqGS
Yamasuta
30 Aug 15 04:05:00
$SCHW - BUY Signal at 30.7 on Aug 28, 15 By http://t.co/6PpjiKmc9G, Trading Signals Robot #stock #trading #trade #investing
chartguy89
29 Aug 15 22:55:19
SCHW +1.12% Stock Charts $SCHW Charles Schwab Corp. (NYSE) Last Updated: 08/30/2015 00:55:25 SCHW Stock Chart http://t.co/Is7wlXSNBE
Gina Albertson
29 Aug 15 16:09:04
Sell-signal detected for 65 stocks: $M $JPM $RHT $FB $LNC $HOT $CBG $KEY $CVC $FLIR $HST $SCHW $STI $SNDK $ROP $TWX $NFX $DFS $BRK-B ...
InvestWithConf
29 Aug 15 10:55:02
$SCHW is rated BUY, 17.0% upside by Wall Street analysts based on average ratings/targets http://t.co/uZVJis8MSN http://t.co/yGkC2S6NiL
Breaking News
29 Aug 15 10:51:05
$NEWS $SCHW: Traders Are Watching: NewStar Financial, Inc. (NASDAQ:NEWS …: http://t.co/6KTeXYcuqQ
WKRB News
29 Aug 15 08:05:46
Charles Schwab Corp PT Lowered to $30.50 $SCHW http://t.co/jdNiqL3ksO
Dave Kelly
29 Aug 15 06:52:59
RT @CMLviz: 8 Large Cap Diversified Fin with Great Fundamentals and Golden Cross $BK $SCHW $NTRS $AMTD http://t.co/Kk2KEk9mub http://t.co/S…
Capital Market Labs
29 Aug 15 06:40:00
8 Large Cap Diversified Fin with Great Fundamentals and Golden Cross $BK $SCHW $NTRS $AMTD http://t.co/Kk2KEk9mub http://t.co/SWcjQZrIhe
zooey m
29 Aug 15 05:55:36
YamasutaTrader: $SCHW - BUY Signal at 30.7 on Aug 28, 15 By http://t.co/aUgveFGWYc, Trading Signals Robot #stock … http://t.co/X3n8d6GPom
Yamasuta
29 Aug 15 05:50:00
$SCHW - BUY Signal at 30.7 on Aug 28, 15 By http://t.co/6PpjiKmc9G, Trading Signals Robot #stock #trading #trade #investing
WKRB News
29 Aug 15 05:49:54
Charles Schwab Corp Assigned “A+” Credit Rating by Morningstar $SCHW http://t.co/rQ6ihHgbfX
Trade Followers
29 Aug 15 05:47:00
$SCHW was one of the most bearish stocks on Twitter over the past week. https://t.co/ntMsjVMqEn
Marko Hristov
29 Aug 15 00:33:30
Stock Trading, Tesla Too Hot For Websites To Handle? http://t.co/3ODbi3vihu $TSLA $SCHW $TWTR $CTL $AMTD $FB $ITG $AMZN
Silviya
28 Aug 15 23:57:40
Stock Trading, Tesla Too Hot For Websites To Handle? http://t.co/NaB3njBhtL $TSLA $SCHW $TWTR $CTL $AMTD $FB $ITG $AMZN
Breaking News
28 Aug 15 22:45:03
$SCHW: Investors Sell Shares of Charles Schwab Corp on Strength After …: http://t.co/lCICNBNvGH
Capital Market Labs
28 Aug 15 20:59:34
$SCHW High Fundamental Rating -> http://t.co/uNKu3W1Rv5 http://t.co/BAouL7KbXV
StockNewsWires
28 Aug 15 19:22:01
$SCHW: Market Update (NYSE:SCHW): Schwab says online access for …: http://t.co/Z4fgb9wJeO
Darshan Dorsey
28 Aug 15 17:11:00
A slew of key names on the Financials At Risk list: http://t.co/puROWUFLhe $WFC $JPM $BAC $C $MS $GS $SCHW $SAN $UBS $DB $BCS $LYG No bueno!
This Here Ninja
28 Aug 15 15:59:31
@grassosteve why do you prefer $ETFC over $AMTD $IBKR $SCHW or any other interest sensitive equity?
Lucretia
28 Aug 15 15:41:29
$SCHW Charles Schwab Corp Given Consensus Recommendation of "Buy" by Brokerages ... http://t.co/9gofFJDwVQ
WKRB News
28 Aug 15 14:39:04
Traders Sell Shares of Charles Schwab Corp on Strength on Analyst Downgrade $SCHW http://t.co/FPCw0GGzD7
Dakota Financial
28 Aug 15 14:22:29
Traders Sell Shares of Charles Schwab Corp on Strength on Analyst Downgrade $SCHW http://t.co/ggoDn09b0W
Thomas Collins
28 Aug 15 12:12:49
$SCHW Charles Schwab Corp PT Lowered to $30.50 at Citigroup Inc. (SCHW) http://t.co/eMePGCKPU0
Samuel Brown
28 Aug 15 12:12:47
$SCHW Shares of The Charles Schwab Corporation (NYSE:SCHW) Sees Large Outflow of Money http://t.co/hFzDGkVLT6
Alexander Morris
28 Aug 15 11:47:36
$SCHW: At/Above PivotR1[30.80],200DaySMA[+30.80]:3d, lm:+1, 0phNearHi, PDayGp+, AtPivR1, tf:0111110, FirmTrnd-:+75%, ch:+1.4%
ProVesting
28 Aug 15 11:33:03
$SCHW: The Charles Schwab Corporation (NYSE:SCHW) Given PT Range …: http://t.co/xofaBvwBJ1
Sleek Money
28 Aug 15 10:21:05
Charles Schwab Corp Rating Reiterated by Barclays $SCHW http://t.co/E3SMUWbyOm
Alexander Morris
28 Aug 15 09:52:39
$SCHW: At/Above 200DaySMA[+30.80]:3d, cl:+6, 0phNearHi, PDayGp+, AtgPivH4, tf:0111111, FirmTrnd-:+75%, ch:+1.5%, bigFlt:1.2B
Market Int Center
28 Aug 15 09:31:33
Schwab $SCHW Showing Bearish Technicals With Resistance At $31.24 ( http://t.co/E1bOFm2PEA )
wsnewspublishers
28 Aug 15 09:09:42
Most Active Stocks Alert: http://t.co/UeYyKPukvV $SCHW $MO $GOOGL
TheDayTradingAcademy
28 Aug 15 09:00:58
$SCHW Schwab Sistema de comercio Online esta a la baja en a mañana, debido al alto volumen. http://t.co/LdHYSsYh8Q http://t.co/PEroKhIDMG
LHommeAncien
28 Aug 15 08:42:30
$schw Schwab online running on old Commodore computer backup....lot of time to drink coffee between clicks and responses $spy
leahanne
28 Aug 15 08:38:12
Volume Alert - SCHW 30.50 The Charles Schwab Corp $SCHW Hit a high today of 30.54 Closing the day 10:30 at 30. http://t.co/I86NOT5coE
Trefis.com
28 Aug 15 08:36:12
Rise In Trade Volumes For TD Ameritrade In July, Asset Base Sustains Growth http://t.co/Y0kVcOpTuU by Trefis Team $AMTD $ETFC $SCHW
DailyStockPicks
28 Aug 15 07:57:47
$ANFI huge bounce play like $ACI up 10%. 100%-200% upside potential $YHOO $WMT $TXN $HTZ $SCHW $NOC investors read http://t.co/L1jwUV6Bag
US Banking News
28 Aug 15 07:35:15
Charles Schwab Corp Given Consensus Recommendation of “Buy” by Brokerages $SCHW http://t.co/PEuxBPp47i
Ticker Report
28 Aug 15 07:27:13
Charles Schwab Corp Given Consensus Recommendation of “Buy” by Brokerages $SCHW http://t.co/O1BWnpODAe
Dakota Financial
28 Aug 15 07:24:36
Charles Schwab Corp Given Consensus Recommendation of “Buy” by Brokerages $SCHW http://t.co/4EMobbhNFr
Consumer News
28 Aug 15 07:22:25
Charles Schwab Corp Given Consensus Recommendation of “Buy” by Brokerages $SCHW http://t.co/yh2hrAdofK #acn
ProVesting
28 Aug 15 07:22:03
$SCHW: Charles Schwab Corp Given Consensus Recommendation of “Buy …: http://t.co/MJ4I1oMNhv
Sleek Money
28 Aug 15 07:21:47
Charles Schwab Corp Price Target Lowered to $30.50 at Citigroup Inc. $SCHW http://t.co/oGOta2sqnX
AbCollar.com
28 Aug 15 07:18:08
RT @TheDomino: Schwab is the latest broker to have system problems...per their Twitter feed, they are working to resolve issues, but no ETA…
BreakingStocksNews
28 Aug 15 07:07:02
$AMTD $SCHW: Charles Schwab Recovers From Premarket Outage: http://t.co/DE2dmS5Fb5
Jennifer Booton
28 Aug 15 06:58:34
Charles Schwab says it has resolved earlier glitch that impacted online trading: http://t.co/KLILr5mCsr $SCHW
Daisuke Yamamotto
28 Aug 15 06:46:47
RT @TheDomino: Schwab is the latest broker to have system problems...per their Twitter feed, they are working to resolve issues, but no ETA…
Richard Fuld
28 Aug 15 06:46:12
platform is shit @AlertTrade $SCHW, $SCHW Charles Schawb Tweets 'We are experiencing some system issues. http://t.co/TMdApDIAu0 @AlertTrade
alan greenspan
28 Aug 15 06:45:24
WTF $SCHW ???@DTradingAcademy $SCHW Schwab Online Trading system is down this morning, possibly due to high volume.
Peter Yastrow
28 Aug 15 06:44:37
RT @SA_FACTSET Schwab's online trading platforms temporarily go down http://t.co/7aJYjGnbdY… #premarket $SCHW
Carl Icahn
28 Aug 15 06:44:02
Schwab not responding...on hold! @HalftimeReport @lindastern Schwab's online trading platform is "unavailalble" this morning. $SCHW
				
				
  +Follow October 15, 2013 9:15AM
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