Charles Schwab Q1 Profit Decreases, but beats estimates

(RTTNews) - Charles Schwab (SCHW) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $1.25 billion, or $0.68 per share. This compares with $1.53 billion, or $0.83 per share, in last year's first quarter.

Excluding items, Charles Schwab reported adjusted earnings of $1.36 billion or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.4% to $4.74 billion from $5.12 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings (Q1): $1.25 Bln. vs. $1.53 Bln. last year. -EPS (Q1): $0.68 vs. $0.83 last year. -Revenue (Q1): $4.74 Bln vs. $5.12 Bln last year.