UPDATE: Charles Schwab Reports 16% Increase In Q2 Net Income

Charles Schwab Corp SCHW reported a 16% rise in its second-quarter net income. Charles Schwab's quarterly earnings surged to $238 million, or $0.20 per share, from $205 million, or $0.17 per share, in the year-ago quarter. Its revenue climbed to $1.19 billion from $1.08 billion. Analysts were expecting a profit of $0.19 per share on revenue of $1.19 billion. Charles Schwab shares rose 1.93% to $15.30 in pre-market trading.