Schwab Says Street’s Outlook Too High
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Faced with a continued decline in client trading, the chief financial officer of Charles Schwab Corp. warned Thursday that Wall Street still has the company’s earnings estimate too high.
CFO Christopher Dodds warned the current target of 7 cents a share is much more than what the San Francisco-based brokerage firm is likely to eke out for the first quarter. “Right now, it is still too aggressive,” he said. But he said he didn’t have enough information to provide a more precise earnings figure.
Shares of Schwab rose 41 cents to $7.12 on the New York Stock Exchange.
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