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Schwabs Earning Swelled In 3Q 2000
by JEFFRY VALENTIN-MARI
November 2, 2000
The Charles Schwab Corporation announced that its operating income for the third quarter (3Q) 2000 reached $166 million, or $0.12 per share, on revenues of $1.32 billion. In comparison, operating income for the 3Q of 1999 was $144 million, or $0.11 per share, on revenues of $1.02 billion.
For the nine months ending Sept. 30, the companys operating income was $688 million, or $0.49 per share, on revenues of $4.45 billion, compared with operating income of $476 million, or $0.35 per share, on revenues of $3.21 billion for the same period in 1999.
Charles Schwab & Co. Inc., one of the largest financial services firms, established offices in Puerto Rico 1994. Starting with a handful of clients, the discount brokerage house now has more than 5,000 clients with an investment portfolio of more than $750 million in Puerto Rico. The company, which currently operates offices in Hato Rey and Mayaguez, is looking to expand its local branch network.
This Caribbean Business article appears courtesy of Casiano Communications.