The Charles Schwab Corporation announced on Tuesday that fourth quarter revenues soared 14% year-over-year and December net new assets grew to more than $11 billion, the highest level in 23 months.

Nonetheless, the company’s net income was $119 million for the fourth quarter of 2010, a 27% decline from $164 million in the fourth quarter of 2009, due to the inclusion of charges relating to the Schwab YieldPlus Fund. Without these charges its fourth quarter net income was $218 million, up 33% over the previous year.

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