Charles Schwab Corp. reported earnings of $2...

Charles Schwab Corp. reported earnings of $2 million for its quarter ended March 31. Earnings for the comparable period in 1987--$13.5 million--were given as pro forma results to reflect the effects of a management-led leveraged buyout and the firm’s initial public offering of common stock in September. The San Francisco-based discount broker said its revenue for the quarter was $96.2 million, compared to $111.2 million for the year-ago period. The firm said the drop in revenue reflects the general decline in stock market trading since the October crash. “Early in the quarter, we responded to market conditions by streamlining our operations and reducing expenses . . . we are continuing to focus on providing the highest levels of customer service, while controlling costs,” the company said.