SAN FRANCISCO (AP) — Discount broker Charles Schwab Corp. said on Tuesday that its second-quarter earnings rose 16 percent in part due to a gain from a confidential settlement with a vendor.
Schwab also attracted more clients in its financial advisory, brokerage and banking businesses, and its earnings topped Wall Street expectations.
The San Francisco-based company reported net income for the three months ended June 30 of $275 million, or 20 cents per share. That compares with earnings of $238 million, or 20 cents per share, in the year-ago period, when Schwab had a smaller number of common shares outstanding.
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