"Charles Schwab Corp.'s (SCHW) second-quarter net income rose 1% on strong revenue amid turbulent equity markets and headwinds from lower short-term interest rates. Chief Financial Officer Joe Martinetto said ongoing financial discipline helped limit expenses and led to a stronger return on equity, citing the broker's high-quality loan portfolio. He added mortgage delinquencies at Schwab bank were 0.33% of its outstanding balance at the end of June, describing it as "a fraction of the national average." Loan charge-offs were $800,000 for the quarter. The discount broker reported net income of $295 million, or 26 cents a share, up from $292 million, or 23 cents a share, a year earlier. Income from continuing operations rose to 27 cents from 20 cents. Revenue increased 9% to $1.31 billion. Analysts' latest mean estimates for earnings per share and revenue were 26 cents and $1.3 billion, respectively, according to Thomson Reuters (Dow Jones Newswires 09:17 AM ET 07/16/2008)"
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