Charles Schwab Q4 Profit Rises

(RTTNews) - Charles Schwab Corp. (SCHW) announced that its net income for the fourth quarter of 2017 was $597 million, up 14% from $522 million for the fourth quarter of 2016. The company's financial result for the fourth quarter 2017 was impacted by the tax reform legislation signed in December - a one-time tax expense of approximately $46 million decreased earnings per share by $0.03. Earnings per common share grew to $0.41 from $0.36 prior year.

Total net revenues for the quarter rose to $2.24 billion from $1.97 billion prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share and revenues of $2.23 billion. Analysts' estimates typically exclude special items.