charles schwab corp said profit and revenue declined in the latest quarter missing wall streets estimates as client activity slowed down the financialservices company said firstquarter net income fell to 14 billion from 148 billion in the same period last year pershare earnings were 67 cents down from 73 cents a year earlier stripping out onetime items schwabs adjusted earnings were 77 cents a share analysts forecast adjusted earnings of 84 cents a share net revenue fell to 467 billion from 472 billion in the yearago quarter analysts were expecting 483 billion in revenue according to factset total net new assets were 1205 billion compared with 1338 billion a year earlier total revenues of 47 billion were just under the record level set in the yearago quarter amidst that extraordinary surge in client activity with increases in net interest revenue and asset management and administration fees essentially offsetting the effects of trading activity returning to more moderate levels chief financial officer peter crawford said write to will feuer at willfeuerwsjcom