Charles Schwab Q2 earnings down 50%; within market expectation

Pursuant to the Q2 earnings report released by Charles Schwab, the profit plummeted 51% from the same period last year to US$97mln and per share earnings met the market expectation to stand at 7 US cents. Turnover reached US$1.07bln, down 23% from a year earlier. Charles Schwab said that the poorly-performing US stocks and the reduced income from stocks dealing dragged the corporate earnings to drop.

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