Schwab meets 4Q profit forecasts

SAN FRANCISCO (AP) _ The Charles Schwab Corp. (SCHW) on Wednesday reported fourth-quarter net income of $522 million.

The company, based in San Francisco, said it had earnings of 36 cents per share.

The results matched Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 36 cents per share.

The financial services firm posted revenue of $1.97 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.98 billion.

For the year, the company reported profit of $1.89 billion, or $1.31 per share. Revenue was reported as $7.48 billion.

Schwab shares have increased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 1 percent. The stock has risen 43 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCHW at https://www.zacks.com/ap/SCHW

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Keywords: Schwab, Earnings Report