Charles Schwab reported Wednesday second-quarter net income of $126 million, or 9 cents a share, a 29% increase from $98 million, or 7 cents a share, in the second quarter of 2002. The company attributed the increase to improvements in the securities markets, cost controls and a 9% increase in average daily trades of 141,000 throughout the quarter.

However, while Schwab opened 152,000 new accounts for a total of 7.7 million accounts in the period, this was a 4% decrease from a year earlier. Also, the $6.5 billion in new assets was lower than previous quarters.

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