In line with its own worst-case-scenario forecast, Charles Schwab Corp. reported a significant decline in first-quarter earnings due in part to a 19% decline in trading revenue.

The San Francisco discount brokerage company announced Thursday that profits declined 45%, to $119 million, or 10 cents per share, from $218 million, or 19 cents per share, a year earlier. Revenue declined 12%, to $978 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.