Charles Schwab Q1 Profit Increases, Beats Estimates

(RTTNews) - Charles Schwab (SCHW) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $1.909 billion, or $0.99 per share. This compares with $1.362 billion, or $0.68 per share, last year.

Excluding items, Charles Schwab reported adjusted earnings of $2.008 billion or $1.04 per share for the period.

Analysts on average had expected the company to earn $1.01 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 18.1% to $5.599 billion from $4.740 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings: $1.909 Bln. vs. $1.362 Bln. last year. -EPS: $0.99 vs. $0.68 last year. -Revenue: $5.599 Bln vs. $4.740 Bln last year.