Charles Schwab Q1 Profit Increases, beats estimates

(RTTNews) - Charles Schwab (SCHW) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.53 billion, or $0.83 per share. This compares with $1.28 billion, or $0.67 per share, in last year's first quarter.

Excluding items, Charles Schwab reported adjusted earnings of $1.71 billion or $0.93 per share for the period.

Analysts on average had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.6% to $5.12 billion from $4.67 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings (Q1): $1.53 Bln. vs. $1.28 Bln. last year. -EPS (Q1): $0.83 vs. $0.67 last year. -Analyst Estimate: $0.90 -Revenue (Q1): $5.12 Bln vs. $4.67 Bln last year.