Charles Schwab Q3 Profit Increases, Beats Estimates

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

The company's bottom line came in at $1.299 billion, or $0.71 per share. This compares with $1.017 billion, or $0.56 per share, in last year's third quarter.

Excluding items, Charles Schwab reported adjusted earnings of $1.416 billion or $0.77 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $4.847 billion from $4.606 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings (Q3): $1.299 Bln. vs. $1.017 Bln. last year. -EPS (Q3): $0.71 vs. $0.56 last year. -Revenue (Q3): $4.847 Bln vs. $4.606 Bln last year.