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Charles Schwab Earnings Grow 68 Percent

Updated:
SAN FRANCISCO (AP) _ Discount broker Charles Schwab Corp. said Monday its first-quarter earnings grew 68 percent as revenue increased to its highest point in five years.

Earnings grew to $243 million, or 19 cents per share, for the three months ended March 31 from $145 million, or 11 cents per share, a year earlier. Revenue increased 21 percent to $1.28 billion from $1.06 billion.

Chief Financial Officer Chris Dodds said improved client asset flows, higher equity valuations and increased trading activity all contributed the company's strong revenue.

Analysts expected a profit of 19 cents per share on revenue of $1.28 billion, according to Thomson Financial.
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