Charles Schwab Q2 Profit Increases, Beats Estimates

(RTTNews) - Charles Schwab (SCHW) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.21 billion, or $0.66 per share. This compares with $1.17 billion, or $0.64 per share, in last year's second quarter.

Excluding items, Charles Schwab reported adjusted earnings of $1.34 billion or $0.73 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.6% to $4.69 billion from $4.66 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings (Q2): $1.21 Bln. vs. $1.17 Bln. last year. -EPS (Q2): $0.66 vs. $0.64 last year. -Revenue (Q2): $4.69 Bln vs. $4.66 Bln last year.