Charles Schwab (NYSE:SCHW) announced that third-quarter profit increased by 12% to $247 million, or 19 cents a share, up from $220 million, or 18 cents a share, in the same period last year. Revenue increased by one percent to $1.2 billion from $1.18 billion. Analysts had exected the firm to earn 17 cents per share on revenue of $1.2 billion.
Shares are higher by about six tenths of a percent.
Rival TD Ameritrade (NYSE:AMTD) is scheduled to announce earnings on October 30, with analysts expecting the company to report $0.25 per share in earnings for the quarter.
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