Charles Schwab Q4 Profit Decreases, but beats estimates

(RTTNews) - Charles Schwab (SCHW) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $926 million, or $0.51 per share. This compares with $1.82 billion, or $0.97 per share, in last year's fourth quarter.

Excluding items, Charles Schwab reported adjusted earnings of $1.25 billion or $0.68 per share for the period.

Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.9% to $4.46 billion from $5.50 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings (Q4): $926 Mln. vs. $1.82 Bln. last year. -EPS (Q4): $0.51 vs. $0.97 last year. -Analyst Estimates: $0.64 -Revenue (Q4): $4.46 Bln vs. $5.50 Bln last year.