Charles Schwab Beats Slightly on Q4 EPS, Revenues
Charles Schwab shares closed the day higher following the release of the broker's Q4 and full-year 2013 results. For the quarter, revenue was $1.44 billion, or 18% above the $1.22 billion in the same period the previous year. Net income recorded a much higher increase, rising by 51%, to $319 million ($0.23 per diluted share) against Q4 2012's $211 million ($0.15).
Analysts had been expecting revenue of $1.40 billion and EPS of $0.21.
For the full year, top line was $5.44 billion, and the company netted $1.07 billion ($0.78 per share). Those figures for fiscal 2012 were $4.88 billion and $928 million ($0.69 per share), respectively.
In the press release detailing the figures, Schwab attributed the improvements to a widening client base, significant enrollment in advisory services, and better performing capital markets.
Following the announcement of the results, the company's stock climbed by 3%, or $0.77, to close at $26.80 in today's trading.
The article Charles Schwab Beats Slightly on Q4 EPS, Revenues originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Charles Schwab. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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