Charles Schwab Corp. reported that its profit...

Charles Schwab Corp. reported that its profit for 1988 fell 70% to $7.4 million, compared to that of 1987. Revenue fell 16% to $392.2 million for the year, mainly because of reduced retail participation in the stock market, the San Francisco-based discount broker said. For the fourth quarter, the firm reported profit of $600,000, contrasted with a loss of $14 million for the year-ago period.

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