Discount Broker Charles Schwab's Profit Rises 57 Pct

Discount broker Charles Schwab Corp reported a 57 percent rise in quarterly profit as it earned more from trading commissions and fees for managing client assets.

Net income available to common stockholders rose to $297 million, or 23 cents per share, in the quarter ended Dec. 30, from $189 million, or 15 cents per share, a year earlier.