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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Charles Schwab Profit Jumps 58% 0 comments
    Apr 15, 2014 11:05 AM | about stocks: SCHW

    Originally published at www.seclive.com

    The Charles Schwab Corporation (NYSE:SCHW) announced its first quarter financial results for the 2014 fiscal year, posting a 58% jump in profit. The online brokerage firm posted revenue of $1.48B, a 15% increase from a year-ago, fueled by asset management fees and increased trading revenue. Schwab experienced the highest average daily trading volumes in its history during the quarter, with an average of more than 550,000 trades executed per day. Trading revenue increased 11% from a year-ago while asset management and administration fees increased 11% to $611M. Earnings rose substantially by 58% from $206M and $0.15 per share to $326M and $0.24 per share. The company topped analyst predictions of $1.47B revenue and $0.22 per share, helping drive its share price upward in pre-market trading.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: SCHW
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