Charles Schwab Corp. announced Friday its net income and revenue soared in the first quarter as the economy improved and investors moved off of the sidelines.

The firm’s net income soared to $243 million for the first quarter of 2011, up from $6 million for the first quarter of 2010. Even excluding certain charges relating to the Schwab YieldPlus Fund and the company’s affinity credit card program for the first quarter of 2010, the company’s first quarter 2011 net income was 84% higher.

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