Charles Schwab Q4 Profit Increases, but misses estimates

(RTTNews) - Charles Schwab (SCHW) reported earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $1.97 billion, or $0.97 per share. This compares with $1.58 billion, or $0.76 per share, in last year's fourth quarter.

Excluding items, Charles Schwab reported adjusted earnings of $2.15 billion or $1.07 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.8% to $5.50 billion from $4.71 billion last year.

Charles Schwab earnings at a glance (GAAP) :

-Earnings (Q4): $1.97 Bln. vs. $1.58 Bln. last year. -EPS (Q4): $0.97 vs. $0.76 last year. -Analyst Estimate: $1.09 -Revenue (Q4): $5.50 Bln vs. $4.71 Bln last year.