The Charles Schwab Corporation (NYSE:SCHW) posted net income for the third quarter of $290 million, up 13% from $256 million for the second quarter of 2013, and up 17% from $247 million for the third quarter of 2012. Diluted earnings per common share came in at 22 cents beating analyst estimates.
CFO Martinetto stated, "...we expect our 2013 revenue growth will outpace expenses by approximately 100 to 200 basis points, helping us to achieve a pre-tax profit margin of at least 30% and earnings per share in the mid-$.70s for the year. Additionally, we are aiming for a gap of approximately 300 to 500 basis points between revenue and expense growth in 2014."
Shares of SCHW are higher by about 4.5% in afternoon trading.
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