Charles Schwab Q4 profit rises, but falls short of estimate


Charles Schwab Corp. SCHW, +2.30% said Tuesday its fourth-quarter profit rose 39% to $1.58 billion, or 76 cents a share, from $1.14 billion, or 57 cents a share, in the year-ago quarter. The online brokerage firm’s adjusted profit rose to 86 cents a share from 74 cents a share. Revenue increased 13% to $4.71 billion. The financial firm was expected to earn 88 cents a share on revenue of $4.79 billion, according to an analyst survey by FactSet. Shares of Charles Schwab fell 2.7% in premarket trades. Full-year 2021 net income rose to a record $5.9 billion, up from $3.3 billion in 2020. The company’s financial results include its TD Ameritrade results from Oct. 6.

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