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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
ProVesting
1 Jul 15 16:11:02
$SCHW: Company Shares of The Charles Schwab Corporation Rally 2.63%: http://t.co/OeOxiU731m
Breaking News Now
1 Jul 15 16:04:03
$SCHW $SVA: Deutsche Bank Rating Update on The Charles Schwab Corporation ...: http://t.co/5ULzA9MyOy
Capital Market Labs
1 Jul 15 13:15:56
$SCHW Trade Card -> http://t.co/vzdAttUiUN http://t.co/7x4H9O9dF5
BlockTradeAlert
1 Jul 15 12:39:01
BLOCK TRADE: $SCHW 500,000 shares @ $33.10 [15:39:00]
wsnewspublishers
1 Jul 15 09:38:12
Current Trade News Analysis on: http://t.co/D31QypxyiE $RF $SCHW $PEGI
Shashi Kant
1 Jul 15 09:01:09
RT @valuewalk: Charles Schwab Expands Menu Of Commission-Free ETFs http://t.co/HfoAdl90Id $SCHW $JPM
Daily Contracts
1 Jul 15 08:41:01
Real-Time feed of company contracts, original agreements and executive updates from $SCHW http://t.co/oegeN9jhcc
ValueWalk
1 Jul 15 07:46:41
Charles Schwab Expands Menu Of Commission-Free ETFs http://t.co/HfoAdl90Id $SCHW $JPM
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1 Jul 15 07:26:18
$R, $NTRS, $LBTYA, $KEY, $SCHW, $TGT, $AON, $HBAN, $ABT, $ROP, $DNB Bullish
Market Int Center
1 Jul 15 05:20:58
Potential Schwab $SCHW Trade Has 5.36% Downside Protection ( http://t.co/6hDtfRXmsR )
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1 Jul 15 04:52:05
Watching Long. $RMBS $OXM $RAD $SYK $LEA $CFG $INCY $BK $LYV $HMHC $BBT $CME $FULT $HBAN $MMC $RSP $SCHW $UNM $VOO $VOYA
InvestWithConf
30 Jun 15 23:27:02
$SCHW is rated BUY, 5.5% upside by Wall Street analysts based on average ratings/targets http://t.co/uZVJis8MSN http://t.co/nekYp8qrX7
The Legacy News
30 Jun 15 20:13:04
Morningstar Assigns A+ Credit Rating to Charles Schwab Corp $SCHW http://t.co/H45MTc7cYB
StockNewsWires
30 Jun 15 19:59:04
$SCHW: Morningstar Assigns A+ Credit Rating to Charles Schwab Corp ...: http://t.co/HTsdFgJiMk
Capital Market Labs
30 Jun 15 19:47:29
Interactive Chart -> http://t.co/feOKnx1BSL $SCHW Revenue is Rising. http://t.co/fqGzNem76Y
Darnell Lockett
30 Jun 15 16:18:03
This is where a really long-term investor is finding value in stocks $FDX $DIS $JNS $SCHW https://t.co/u19CkZY3vl
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30 Jun 15 15:32:03
$SCHW $BAC: In Communist China, Stock-Market Capitalists Now Rule: http://t.co/R9WaqKGj1p
ProVesting
30 Jun 15 11:35:02
$SCHW: Mid-Day Buzzers - Charles Schwab (SCHW), Hecla Mining (HL ...: http://t.co/TlWuvbv7k8
StockNewsWires
30 Jun 15 09:35:03
$SCHW: Charles Schwab Corp Given Consensus Recommendation of "Buy ...: http://t.co/xZzShfqkNi
The Legacy News
30 Jun 15 09:29:38
Charles Schwab Corp Given Consensus Recommendation of “Buy” by Analysts $SCHW http://t.co/leyls0337D
ETFBlogNL
30 Jun 15 08:02:11
RT @ETFGodfather: $SCHW expands OneSource commission-free ETF suite, adds more $WETF #ETFs http://t.co/hEzDo3ArYi
ETF Godfather
30 Jun 15 07:43:26
$SCHW expands OneSource commission-free ETF suite, adds more $WETF #ETFs http://t.co/hEzDo3ArYi
OneChicago
30 Jun 15 07:29:01
$SCHW 20150717 Block Trade: 649 trade. ~$2.1 MM notional value.
wsnewspublishers
30 Jun 15 07:14:44
Active Stocks Trader's Buzzers http://t.co/kaonE9fRNY $NBG $SCHW $MPEL
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30 Jun 15 05:49:07
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leahanne
30 Jun 15 05:44:46
SCHW Charles Schwab Corp. Ask Size http://t.co/1pPr8emsB6 $SCHW $FNV $CNC $FV #SCHW #nasdaq #nasdaq
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30 Jun 15 05:42:35
NUGT Direxion Daily Gold Miners Bull 3x Shares Open http://t.co/vpf1XTKEQ1 $NUGT $GERN $SCHW $IYR #NUGT #nasdaq #finance
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30 Jun 15 05:42:06
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30 Jun 15 05:40:31
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30 Jun 15 05:32:21
BABA Alibaba Group Holding Ltd. News http://t.co/JOOWUXcC2b $BABA $SCHW $GERN $CELG #BABA #pennystocks #stock
Irma Doucet
30 Jun 15 05:08:37
$SCHW Pre-Market News Report on: Halliburton Company, (NYSE:HAL), The Charles ... http://t.co/VZCWkMfSfF
Jack Trader
30 Jun 15 05:08:32
$SCHW Why Macy's, Inc. (M), Western Digital Corp. (WDC) and Charles Schwab Corp ... http://t.co/s4uFiv8UJI
StockNewsWires
30 Jun 15 02:36:03
$SCHW: Charles Schwab (NYSE:SCHW) Had It's Price Objective Upped by ...: http://t.co/rr6fOyyJwu
ProVesting
30 Jun 15 02:17:06
$SCHW: Deutsche Bank Rating Update on The Charles Schwab Corporation ...: http://t.co/dSU2X5dGWw
Capital Market Labs
29 Jun 15 18:08:18
Interactive Chart -> http://t.co/feOKnx1BSL $SCHW Revenue is Rising. http://t.co/TLSQkyC36T
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29 Jun 15 14:58:54
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29 Jun 15 13:54:03
Why Macy's, Western Digital and Charles Schwab Are 3 of Today's Worst Stocks $M $WDC $SCHW http://t.co/2q8S7mAsW7
Capital Market Labs
29 Jun 15 11:45:35
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Dave
29 Jun 15 11:27:56
The 6 pro traders at http://t.co/cPn1j4CSWV alerted over 300% in gains last week. Wow. - $SLB $GT $MRO $SCHW $MCD $LLY $RXDX $POT $CTL
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29 Jun 15 11:05:21
The Most Accurate Stock Alert Service Made $240,000 Yesterday http://t.co/SVqoMkrw2z .. $SCHW $SCI $SCL
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29 Jun 15 08:23:08
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Daily Contracts
29 Jun 15 07:23:01
Real-Time feed of company contracts, original agreements and executive updates from $SCHW http://t.co/oegeN9jhcc
Sleek Money
29 Jun 15 07:21:27
Charles Schwab Corp Assigned “A+” Credit Rating by Morningstar $SCHW http://t.co/5IDDAANOCf
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29 Jun 15 07:20:10
Big move from open: http://t.co/0QeEcIolIX, $INFN, $HZNP, $PANW, $WEC, $CSIQ, $PTEN, $RAX, $SRPT, $GT, $FOSL, $MGA, $DLPH, $TIF, $ZU, $SCHW
wsnewspublishers
29 Jun 15 07:14:08
Pre-Market News Report on: http://t.co/6ipmY35WlV $HAL $SCHW $CLDN
Media Sentiment
29 Jun 15 06:54:36
$SCHW received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 113
DailyStockPicks
29 Jun 15 06:54:05
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Market Int Center
29 Jun 15 06:51:03
Schwab $SCHW Showing Bullish Technicals With Support At $32.93 ( http://t.co/oIJloYDtGl )
Investors Analytics
29 Jun 15 04:53:12
Today's Five Day Forecast is live! Check out http://t.co/96yY5ly95X for calls on: $RAD $SCHW $SFUN $SIRI $TSM $TWTR $UNH #investing
Breaking News Now
28 Jun 15 21:49:04
$SCHW: Shares of The Charles Schwab Corporation (NYSE:SCHW) Sees ...: http://t.co/J83imThXHp
				
				
  +Follow October 15, 2013 9:15AM
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