Charles Schwab's ( SCHW) fourth-quarter earnings from continuing operations rose 36%, as the discount broker's revenue and assets climbed.San Francisco-based Schwab posted fourth-quarter earnings from continuing operations of $305 million, or 26 cents a share, up from $224 million, or 18 cents a share, a year earlier. The per-share results were a penny shy of analysts' average estimate, according to Thomson Financial. The figures exclude the company's July sale of wealth-management company U.S. Trust. Including the impact of the sale, earnings slipped to $308 million, or 26 cents a share, from $467 million, or 37 cents a share, the prior year. Schwab's revenue, when adjusting for the U.S. Trust sale, rose 23% to $1.35 billion. Wall Street expected revenue of $1.32 billion. The company's pretax profit margin rose to 39.1% from 33.9%, but its return on equity slipped to 35% to 39%. For the year, Schwab's total client assets rose 17% to $1.4 trillion, while its total brokerage accounts rose 5% to 7 million. Analysts have predicted that Schwab would see a jump in assets following the troubles at rival E*Trade Financial ( ETFC).