Schwab’s Q2 profit flat, but above estimates
Charles Schwab's second-quarter profit was flat year over year, but beat analysts' estimates.
The San Francisco brokerage said Friday that it had net income of $205 million, or 17 cents per diluted share, in the second quarter compared with $205 million, or 18 cents per diluted share, a year ago.
Schwab’s (NASDAQ: SCHW) second-quarter revenue was $1.08 billion, compared with $1 payday loan online.085 billion a year earlier.
Analysts surveyed by Thomson Reuters had expected earnings of 15 cents per share on $1.06 billion in revenue.
The company's shares closed up 4.05 percent at $15.14 in trading Friday.