Brokerage firm Charles Schwab (NYSE:SCHW) reported a 16% increase in second-quarter earnings today.
Profits totaled $238 million, or $0.20 per share, up from $205 million, or $0.17 per share, in last year’s second quarter.
Revenue rose 10%, to $1.19 billion. Earnings per share were just ahead of analyst expectations, while revenue met estimates.
The company said new accounts fell 10% year-over-year in Q2, to 36,000.
Schwab notes that it extended its integrated mobile brokerage and banking capabilities to users of smartphones based on Google’s (NASDAQ:GOOG) Android platform. Schwab also enabled Android users as well as users of Apple’s (NASDAQ:AAPL) iPhone to deposit checks remotely with a snap of their smartphone camera. The firm also launched a Workplace Retirement iPhone App for 401(k) participants.
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