Charles Schwab Trading Up Pre-Market On Strong Results

Charles Schwab SCHW reports Q2 EPS 17c versus consensus of 15c. SCHW Q2 reports revenues of $1.08 billion bs consensus of $1.06 billion. Chairman Charles Schwab said, “As we expected, our financial performance rebounded strongly in the second quarter – the company’s revenues were up $102 million, or 10%, from the prior quarter, and ongoing expense discipline helped lift our pre-tax profit margin back over 30%. The economy is starting to find its footing, and short term interest rates have either stabilized or improved. In addition, despite ongoing equity market volatility, valuations continue to reflect a recovery from the lows of the financial crisis. Our focus on building stronger client relationships has not wavered, and we believe that today, more than ever, investors are well served by the kinds of products, services and financial guidance we provide. We’re optimistic that all these factors will help us improve on our second quarter financial performance during the remainder of 2010.”