Schwab beats Street 1Q forecasts

SAN FRANCISCO (AP) _ The Charles Schwab Corp. (SCHW) on Tuesday reported first-quarter earnings of $564 million.

The company, based in San Francisco, said it had earnings of 39 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The financial services firm posted revenue of $2.08 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.06 billion.

Schwab shares have dropped slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 5 percent. The stock has climbed 33 percent in the last 12 months.

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

Keywords: Schwab, Earnings Report