Schwab Net Rises on U.S. Trust Sale |
Wall Street Journal - Oct 15, 2007 |
Charles Schwab Corp.'s third-quarter net income rose sixfold because of a $1.2 billion gain from its July sale of U.S. Trust to Bank of America Corp.
The San Francisco financial-services firm reported net income of $1.53 billion, or $1.28 a share, compared with $266 million, or 21 cents a share, a year earlier.
Earnings from continuing operations rose 40% to $323 million, or 27 cents a share.
Revenue climbed 21% to $1.29 billion.
The mean estimates of analysts surveyed by Thomson Financial were for earnings of 25 cents a share on revenue of $1.26 billion.
Read Full Article from Wall Street Journal
- Posted: 2007-10-15 10:17:39
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