Charles Schwab (NYSE:SCHW) shares closed the day higher following the release of the broker's Q4 and full-year 2013 results. For the quarter, revenue was $1.44 billion, or 18% above the $1.22 billion in the same period the previous year. Net income recorded a much higher increase, rising by 51%, to $319 million ($0.23 per diluted share) against Q4 2012's $211 million ($0.15).
Analysts had been expecting revenue of $1.40 billion and EPS of $0.21.
For the full year, top line was $5.44 billion, and the company netted $1.07 billion ($0.78 per share). Those figures for fiscal 2012 were $4.88 billion and $928 million ($0.69 per share), respectively.
In the press release detailing the figures, Schwab attributed the improvements to a widening client base, significant enrollment in advisory services, and better performing capital markets.
Following the announcement of the results, the company's stock climbed by 3%, or $0.77, to close at $26.80 in today's trading.
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