NEW YORK (TheStreet) -- Shares of Charles Schwab (SCHW - Get Report) are down 0.74% to $26.83 early Monday afternoon even though the savings and loan company reported in-line earnings per share and slightly higher-than-expected revenue for the 2016 second quarter.
Before today's market open, the San Francisco-based firm posted earnings of 30 cents per share, which matched analysts' projections.
Revenue rose 17% to $1.83 billion from last year and was slightly above Wall Street's estimates of $1.8 billion.
Its growing number of clients helped increase earnings per share and revenue during the period.
Additionally, the company said clients used its services increasingly after Britain decided to leave the European Union last month.
"Client engagement remained strong throughout the second quarter, with activity spiking in late June as the United Kingdom held its referendum on leaving the European Union," CEO Walt Bettinger said in a statement.
Charles Schwab added 271,000 brokerage accounts during the period vs. 280,000 last year.
The company now has 10 million active brokerage accounts compared to 9.6 million a year ago.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, impressive record of earnings per share growth and compelling growth in net income.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SCHW