UPDATE: Charles Schwab Q3 Profit Up 12%

Charles Schwab

reported a 12% rise in its third-quarter profit. Charles Schwab's quarterly profit rose to $247 million, or $0.19 per share, versus $220 million, or $0.18 per share, in the year-earlier period. Its revenue increased 1% to $1.2 billion from $1.18 billion. However, analysts were expecting earnings of $0.17 per share on revenue of around $1.2 billion. Charles Schwab shares closed at $12.95 on Friday.