Charles Schwab Corp
The company waived $78 million in fees from its money market mutual funds in the third quarter, less than the $80 million it forecast last month.
Schwab's shares declined 2.9 percent in premarket trading.
The company earned $200 million, or 17 cents per share, in the quarter ended September 30, down from $304 million, or 26 cents per share, in the same period a year earlier.
Schwab said client trading activity fell during the quarter, leading to a 4 percent drop in trading revenues.
Revenue dropped 19 percent to $1.011 billion. Analysts on average had expected Schwab to earn 17 cents per share on $1.025 billion in revenue, according to Thomson Reuters I/B/E/S.
(Reporting by Phil Wahba, editing by Dave Zimmerman)