Charles Schwab posts 7 percent fall in net profit

July 16 Tue Jul 16, 2013 8:51am EDT

July 16 (Reuters) - Online broker Charles Schwab Corp posted a 7 percent fall in quarterly profit as growth in net new assets slowed and expenses rose.

The company's net profit fell to $256 million, or 18 cents per share, in the second quarter, from $275 million, or 20 cents per share, a year earlier. Revenue rose 4 percent to $1.34 billion.