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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
Wall Street Monitor
23 Aug 14 07:45:06
$SCHW: Jefferies Bullish on Charles Schwab (SCHW) Medium and Long Term Prospects http://t.co/7UYaEsh5IC http://t.co/lnl17EoKAq
FonsieTrader
23 Aug 14 07:10:54
Moved Upper Bollinger Band 3/3 $SCHW $SCLA $SUSQ $TA $TFM $TRIP $TSCO $TUES $VEEV $WSM $YHOO http://t.co/EEfUuiyD7Y
Stock Signaling
22 Aug 14 21:01:39
Movers and Shakers: Making Range Advances: $TLM $PVA $NSR $ARAY $ACCO $MY $SCHW $EXAS $C $MRVL $TUES $HIMX $LOW $CRM $GPS #trader #spy #dow
US Consumer News
22 Aug 14 20:56:26
Charles Schwab Corp EVP Jay Allen Sells $183,683 in $SCHW http://t.co/Cx3WeZgEwM
US Banking News
22 Aug 14 20:54:53
Charles Schwab Corp EVP Jay Allen Sells $183,683 in $SCHW http://t.co/51mo29N1Ek
Stock News Updates
22 Aug 14 19:45:05
$SCHW: The Charles Schwab Corporation (SCHW) Ex-Dividend Date Scheduled for ... http://t.co/oX2XNpProl http://t.co/qNUojYek3a
US Banking News
22 Aug 14 19:40:34
Charles Schwab Corp EVP Jay Allen Sells $183,683 in $SCHW http://t.co/51mo29N1Ek
US Consumer News
22 Aug 14 19:40:29
Charles Schwab Corp EVP Jay Allen Sells $183,683 in $SCHW http://t.co/Cx3WeZgEwM
US Banking News
22 Aug 14 16:25:33
Charles Schwab Corp EVP Jay Allen Sells $183,683 in $SCHW http://t.co/51mo29N1Ek
US Consumer News
22 Aug 14 16:12:27
Charles Schwab Corp EVP Jay Allen Sells $183,683 in $SCHW http://t.co/Cx3WeZgEwM
WKRB News
22 Aug 14 13:59:55
Charles Schwab Corp EVP Jay L. Allen Unloads 6,470 Shares $SCHW http://t.co/6F4VMIdH8o
InterCooler
22 Aug 14 13:21:33
Charles Schwab Corp EVP Sells $183,683 in Stock $SCHW http://t.co/96bygDu7bA
Financial News
22 Aug 14 12:45:05
$SCHW: World stocks fall on Russia-Ukraine concerns http://t.co/AZHj91KqP1 http://t.co/wMXMAs4XWb
Jack Trader
22 Aug 14 12:30:25
$SCHW Charles Schwab Corp. adding El Paso center with 445 jobs http://t.co/f9YPlu9cwj
Thomas Collins
22 Aug 14 12:30:25
$SCHW YieldBoost The Charles Schwab Corporation To 3.7% Using Options http://t.co/OuZLtbCBYs
TradingPulseAlpha
22 Aug 14 09:48:52
in the TP portfolio $schw is breaking out to new high, target now at 29.90 http://t.co/lY3FktmAPL #investing
StockConsultant.com
22 Aug 14 09:39:56
$SCHW 28.86 breakout area http://t.co/omqGK2bJc3 http://t.co/ZECw9QrQr0
Stock Signaling
22 Aug 14 09:01:13
Movers and Shakers: Making Range Advances: $SCHW $EXAS $C $MRVL $TUES $HIMX $LOW $CRM $GPS $PG $GMCR $RH $TSM $YHOO $QUNR #nasdaq #trading
Financial Headlines
22 Aug 14 08:45:05
$SCHW: The NASDAQ Pre-Market: What You Need To Know http://t.co/mngSfiDkxn http://t.co/BRX1bndlwu
Market Int Center
22 Aug 14 07:59:51
Schwab $SCHW Showing Bullish Technicals With Support At $27.95 ( http://t.co/exwIdiHjRW )
Jonathan Guillou
22 Aug 14 07:59:40
RT @markminervini: $SCHW, $BURL - both moving to new highs following through after breaking out earlier this week - I have positions
FonsieTrader
22 Aug 14 07:54:26
$SCHW Is breaking out http://t.co/ngu5KpuJ0r
Mark Minervini
22 Aug 14 07:45:32
$SCHW, $BURL - both moving to new highs following through after breaking out earlier this week - I have positions
Al Sabogal
22 Aug 14 07:42:54
@ITradeNaked am long $AMTD & $SCHW
Thomas Collins
22 Aug 14 07:30:25
$SCHW Charles Schwab Corp. adding El Paso center with 445 jobs http://t.co/EeNKcdPznZ
Harry Walkman
22 Aug 14 07:30:24
$SCHW YieldBoost The Charles Schwab Corporation To 3.7% Using Options http://t.co/gzigBqinP3
ArizonaTrader
22 Aug 14 07:08:02
RT @SeekingAlpha: Fortune's 'Buy And Forget' Portfolio (14 Years Later) http://t.co/RypboUTSTl $BRCM $ETF $MS $NOK $ORCL $SCHW $VIA
Market Compass
22 Aug 14 06:45:05
$SCHW: Charles Schwab Corp major shareholder Unloads 280000 Shares (SCHW) http://t.co/nsV6fSuMyk http://t.co/XFMlT3e9Uo
Al Sabogal
22 Aug 14 06:10:47
RT @TradeSnoop: $SCHW Long setup http://t.co/obWZ8p3bCC
Al Sabogal
22 Aug 14 06:10:41
.@TradeSnoop been in since 26 (stock and calls)...still has a lot of potential esp with a rotation into fins $SCHW - http://t.co/p3JG9Xwn0p
Tea Party Mobile
22 Aug 14 05:52:50
Stocks at new highs; will drop follow? http://t.co/3Tj04DIbGv $TVIX $VIX - $cat $qqq $spy $cbg $cbs $celg $cnp $ctl $cern $cf $schw $chk $cb
Tradesnoop
22 Aug 14 05:22:36
Posted $GS, $SCHW setups this AM. $JPM $C $MS look good as well.
ETF Alerts
22 Aug 14 05:00:06
Fortune's 'Buy And Forget' Portfolio (14 Years Later) http://t.co/pQavSs4Qcw $BRCM $ETF $MS $NOK $ORCL $SCHW $VIA
Tradesnoop
22 Aug 14 04:29:25
$SCHW Long setup http://t.co/obWZ8p3bCC
Tim Ikels
22 Aug 14 03:11:40
08/22/14 -> $PDLI - PDL BioPharma -> $AMTD - TD Ameritrade -> $SCHW - Charles Schwab -> $DATA - Tableau Software #ITradeNaked #stocks #watch
Companies in News
21 Aug 14 20:45:04
$SCHW: Charles Schwab Now #123 Largest Company http://t.co/kMkyuvNJxW http://t.co/EAg50XipnT
Colin Macleod
21 Aug 14 19:49:47
August 21 2014 Chart Patterns: Wedge Up http://t.co/d6ChDONffj $HPQ $SCHW $DIS $ATVI $MA $PANW $NOC $NLSN
David Blair
21 Aug 14 18:39:59
$SCHW close to breaking from its box for a trend continuation. http://t.co/PLW1tFq7qW
Business News Now
21 Aug 14 15:45:02
$SCHW: Charles Schwab Corp EVP Unloads $41505 in Stock (SCHW) http://t.co/FLLYiU9rwe http://t.co/WtjiWN4rgC
ShortStockVolume.com
21 Aug 14 14:31:24
Top Shorted Stocks 08/21/14... 20. $RFMD 62.96% 21. $SPLS 62.88% 22. $VALE 62.77% 23. $EEM 62.73% 24. $SCHW 62.42% 25. $ITUB 62.26%
ShortStockVolume.com
21 Aug 14 14:31:21
Top Shorted Stocks 08/21/14... 23. $EEM 62.73% 24. $SCHW 62.42%... http://t.co/ybJg7nzxOn
Media Sentiment
21 Aug 14 11:50:04
$SCHW received a new alert. Find out why at http://t.co/nZwqRf3BRT #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 297
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21 Aug 14 11:49:11
Schwab $SCHW Showing Bullish Technicals With Support At $27.53 ( http://t.co/Ufh36qW96l )
WallStreet
21 Aug 14 11:06:22
Stocks High On Analysts Actions: $ALLY, $SLXP, $SCHW, $CSIQ -- http://t.co/wK67cYHSGh
Business News
21 Aug 14 06:45:06
$SCHW: Should Women Invest In The New 'Women's' Fund? http://t.co/5l0NNtlfeA http://t.co/KtmZ5CIWUA
Large Void Bot
21 Aug 14 06:00:33
Popular: $AMPE, $HPQ, $PLCE, $CYBX, $PERY, $SCHW, $AUXL, $FCS, $MGNX, $HRL, $AMTD, $ATML, $BONT, $SPLK, $ACCO, $NUGT
Wall Street News
21 Aug 14 05:45:06
$SCHW: Schwab Reports Monthly Activity Highlights http://t.co/c31rAufH5y http://t.co/Jhu05t7xzK
FonsieTrader
21 Aug 14 05:12:54
Parabolic Sar Buy Signals 2/2 $FCX $GLW $KWK $M $MDRX $MVIS $PNRA $PRAN $SCHW $SHLD $SNDK $SU $TSCO http://t.co/P8HgrzjQlx
FonsieTrader
21 Aug 14 05:11:10
Moved Upper Bollinger Band 2/2 $LMT $MAR $MRD $ONNN $PBF $PBR $PDLI $RKUS $RTN $RVBD $SCHW $TOL $TRN $TXT $UAL $VFC http://t.co/DnM1yjUBgv
FonsieTrader
21 Aug 14 05:08:50
Bullish MACD Crossovers 2/2 $KWK $LVS $M $MYGN $MYL $NAVI $NOV $NVO $OIBR $PLCE $PWE $SC $SCHW $SU $TGT $VTG $XOM http://t.co/zTpisRhkVO
				
				
  +Follow October 15, 2013 9:15AM
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