quarter profit jumps 11 percent
NEW YORK (Reuters) Charles Schwab Corp, the discount brokerage pioneer now marketing itself as a full buy canada goose jacket service Canada Goose online firm that gives investors advice, said its third quarter profit climbed 11 percent from a year buy canada goose jacket cheap earlier to $321 million on double digit growth in management canada goose outlet toronto factory fees and interest revenue.
Earnings canadian goose jacket translated to 24 cents per share, matching the consensus estimate of analysts surveyed by Thomson Reuters I/B/E/S.
Schwab benchmark trading canada goose black friday sale business slowed in Canada Goose Outlet the typically sluggish quarter which spans the summer months. Daily average trades fell 5 percent from a year ago and 2 percent from this year Canada Goose sale second quarter to an canada goose coats average of 269,000 Canada Goose Online revenue producing trades per day, it said.
The San Francisco based firm total revenue rose 12.9 percent from the third quarter of 2013 to $1.5 billion on asset management and service fees that climbed canada goose clearance sale $66 million to $649 million and Canada Goose Parka interest revenue up $69 million 2018 canada goose outlet to $600 million.
Interest rates remain low, but Schwab earns a major part of its revenue from investing cash customers keep in their accounts. policymakers and economic signals point to Canada Goose Coats On Sale a rate hike.
Schwab shares, cheap Canada Goose which slid 12 percent over the past week, were down 3.9 canada goose replica percent canada goose coats on sale in Wednesday afternoon trading at $24.30. The S 500 index was last off 2.7 percent.
Schwab also reported $120 million of income, reflecting a one time insurance cheap Canada Goose Coats recovery of canada goose deals about $45 million and payments it likely received from trading firms for sending them customer orders to execute, according canada goose outlet store locations to Richard Repetto, canada goose an analyst at brokerage firm canada goose clearance Sandler O Partners.
Schwab ended the quarter with 9.3 million topparka brokerage accounts, including 229,000 added during the quarter. The total was up 3 percent from a year earlier.
It collected $34.7 billion of new customer assets during the quarter through its brokerage, bank and mutual fund channels, bringing total client assets at the end of the quarter to $2.4 trillion, up 12 percent from a year earlier. Repetto said market Canada Goose Jackets gains accounted for 64 percent of the growth in canada goose store new assets.
Schwab third quarter results also included a one time charge of $68 million for severance and other costs related to its plan to move many jobs from San Francisco to Texas and other cost effective locations, the company said.