PaineWebber said it earned $51.7 million, or...
PaineWebber said it earned $51.7 million, or $1.06 per share, up from $38.4 million, or 81 cents per share, in the same 1991 period. Revenue rose 18% to $625.8 million from $529.2 million a year earlier.
The nation’s fifth-largest brokerage said retail brokerage was stronger than a year ago and in the 1992 second quarter.
Charles Schwab Corp. said its third-quarter profit fell 41%. The company attributed the drop to expansion-related expenses and to investor caution in an uncertain economy.
Schwab, the parent of the nation’s leading discount brokerage, earned $7.8 million, or 20 cents a share, for the three months ended Sept. 30, compared with $13.2 million, or 34 cents a share, for the same period of last year.
Revenue dipped 2.7%, to $196.8 million from $202.3 million.
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