Charles Schwab Corp (NYSE:SCHW) stock was down on Tuesday despite an earnings beat for the first quarter of 2017.

Charles Schwab Corp reported earnings per share of of 39 cents for the first quarter of the year. This is an increase over its earnings per share of 29 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 37 cents for the quarter.

During the first quarter of 2017, Charles Schwab Corp reported revenue of $2.08 billion. This is up from the revenue of $1.76 billion that it reported in the first quarter of 2016. It also beat out analysts’ revenue estimate of $2.06 for the first quarter of the year.

Charles Schwab Corp reported net income of $564 million during its first quarter of 2017. This is an increase over the net income of $412 million that was reported by the savings and loan company in the first quarter of the year prior.

Charles Schwab Corp notes that its trading revenue for the first quarter of 2017 was down by 17% to $192 million. The company says that this is mainly due to lower trade pricing. It also points out that client assets managed by Windhaven decreased by 23% to $8.5 billion when compared to the same time in the previous year.

“Our current plans call for transferring approximately $500 million to $1 billion in sweep money fund balances to the Bank during the second quarter,” Joe Martinetto, CFO of Charles Schwab Corp, said in a statement. “Schwab’s consolidated balance sheet totaled $227 billion at quarter-end, up 19%.”

SCHW stock was down 2% as of noon Tuesday.