By Allison Prang

Charles Schwab Corp.'s net revenue and profit declined in the third quarter.

The company on Thursday reported $698 million in earnings, down from $951 million a year earlier.

Earnings were 48 cents a share, down from 70 cents a share. According to FactSet, analysts expected 47 cents a share.

Adjusted earnings were 51 cents a share.

Net revenue was $2.45 billion, down 9.7% from $2.71 billion. According to FactSet, analysts expected $2.42 billion.

Schwab's total client assets rose 6.9% from the second quarter to $4.4 trillion.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

10-15-20 0924ET