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Schwab 3Q net income up 77 percent

Discount broker Charles Schwab Corp. said Monday its third-quarter net income rose 77 percent as more investors turned to the company's advisory services amid increased market volatility and stock trading increased.

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DES MOINES, Iowa (AP) Discount broker Charles Schwab Corp. said Monday its third-quarter net income rose 77 percent as more investors turned to the company’s advisory services amid increased market volatility and stock trading increased.

The San Francisco-based company posted net income of $220 million, or 18 cents per share, compared with $124 million, or 10 cents per share, a year ago. The year-ago profit was $218 million excluding certain charges.

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