Charles Schwab 4th Quarter Profit Steady

By: Associated Press
By: Associated Press

SAN FRANCISCO (AP) -- A company that's announced plans to create 500 new technology and managerial jobs in Colorado says its fourth-quarter profit matched what it earned in the same period a year ago, even as its revenue fell.

San Francisco-based brokerage Charles Schwab says it earned $308 million, or 27 cents per share, in the last three months of 2008. That was in line with the $308 million, or 26 cents a share, it earned a year ago when it had slightly more shares outstanding.

Excluding discontinued operations, net income rose 1 percent in the quarter.

Schwab says revenue fell 5 percent to $1.28 billion.

Thomson Reuters says analysts were expecting earnings of 26 cents per share on revenue of $1.28 billion.

Schwab made the Colorado announcement yesterday.

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