UPDATE: Charles Schwab Q2 Net Profit Declines 7%

Charles Schwab

reported a 7% drop in its fall in its second-quarter profit. Charles Schwab's quarterly net profit declined to $256 million, or $0.18 per share, versus $275 million, or $0.20 per share, in the year-ago period. Its revenue climbed 4% to $1.34 billion. Charles Schwab shares dropped 0.74% to $21.55 in pre-market trading.