SAN FRANCISCO (AP) — Charles Schwab Corp. said Wednesday that its fourth-quarter net income rose 16 percent, helped by higher asset management and administration fees. But trading revenue declined, and shares of the discount broker and retirement plan provider slipped.
After the payment of preferred dividends, the San Francisco-based company earned $189 million, or 15 cents per share, in the three months through Dec. 31. That's up from $163 million, or 13 cents per share, in the same quarter last year.
Revenue rose 9 percent to $1.22 billion from $1.11 billion.
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