Charles Schwab Corp. reported third-quarter net income available to common stockholders of $575 million, or 42 cents per share, up from $470 million, or 35 cents per share, in the year-ago quarter.
The S&P Capital IQ consensus GAAP EPS estimate for the quarter was 41 cents.
Total net revenues for the quarter increased 13% year over year to $2.17 billion from $1.91 billion.
Asset management and administration fees grew 8% to $861 million from $798 million. Net interest revenue climbed 28% to $1.08 billion in the third quarter from $845 million in the prior-year quarter. Trading revenues decreased 21% year over year to $151 million from $190 million.
Total client assets at the end of the third quarter were $3.181 trillion, up 5% from $3.041 trillion at the end of the second quarter, and up 17% from $2.725 trillion at the end of third quarter of 2016.
The company reported daily average revenue trades of 312,000 in the third quarter, compared to 311,000 at the end of the second quarter, and 268,000 at the end of the prior-year quarter.