At a glance: Charles Schwab Corp.
2001 revenue: $4.4 billion 2000: $5.8 billion 52-week high: $19 P/e: 85.11 Price/book: 3.58 2001 earnings: $199 million…
2001 revenue: $4.4 billion 2000: $5.8 billion 52-week high: $19 P/e: 85.11 Price/book: 3.58
2001 earnings: $199 million 2000: $718.1 million 52-week low: $8.13 Market cap: $15.3 billion
The nation’s leading discount broker announced Thursday that it will miss Wall Street’s earnings consensus. Its share price suffered, dropping 10% for the week. It closed at $11.25 per share on Friday.
Analysts on average had expected earnings of 9 cents per share in the second quarter, an estimate the company lowered by a penny or two.
“With our clients’ daily average revenue trades for the first seven days of June running at levels comparable to May, our ability to improve operating and reported earnings over first-quarter 2002 levels remains under pressure,” co-CEO David Pottruck said in a statement. Schwab earned 8 cents per share in the first quarter.
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