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SAN FRANCISCO (AP) - Charles Schwab Corp.'s first-quarter profit rose 12 percent to match analyst expectations as the discount stock brokerage avoided most of the shaky investments that have tripped up much of the financial services industry.
The San Francisco-based company said Tuesday that it earned $305 million, or 26 cents per share during the first three months of the year. That compared with net income of $273 million, or 22 cents per share, in last year's first quarter.
The 2007 results included earnings from a wealth management subsidiary, U.S. Trust, that Schwab has since sold.
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