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TD Ameritrade 1Q Net Up 4.8% On Cost Control, Revenue Misses Estimates

DOW JONES NEWSWIRES TD Ameritrade Holding Corp.'s (AMTD) fiscal first-quarter earnings edged up 4.8% as a tight control on expenses helped the online brokerage offset a surprise decline in revenue. The usual holiday slowdown in trading activity was more pronounced over the past few months as a deepening European sovereign debt pushed some retail investors to the sidelines. For the quarter ended Dec. 31, TD Ameritrade reported average daily client trades totaled 367,479, down 1.2% from a year earlier and 12% from the previous quarter. Ameritrade, which has in recent quarters made strides in gathering new assets, also reported Tuesday it added $10.2 billion in net new assets for its fiscal first quarter, compared with $9.7 billion a year earlier and $12.4 billion in the previous quarter. "We continue to execute well against our growth strategy in the face of a difficult market environment," said Chief Executive Fred Tomczyk. For the quarter ended Dec. 31, the company reported a profit of $152 million, or 27 cents a share, up from $145 million, or 25 cents a share, a year earlier. Net revenue slipped 0.4% to $653.4 million. Analysts surveyed by Thomson Reuters expected earnings of 26 cents a share on revenue of $671 million. Operating expenses edged up 0.7% from a year earlier to $424.9 million. The brokerage has previously said it would tightly manage expenses in response to market and interest-rate challenges. Shares closed Friday at $16.30 and were inactive premarket. The stock is up 4.2% so far this year. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

Stock News for Td Ameritrade Holding (AMTD)
DateTimeHeadline
04/23/201213:03:30Weak Stock Volume, Low Volatility Weighed On Bank Trading In...
04/17/201209:24:29TD Ameritrade Averaging 370,000 Client Trades/Day In April
04/17/201208:38:12TD Ameritrade 2Q Net Down 20% As Revenue Falls; Adds $10.8 Billion...
04/11/201209:22:41TD Ameritrade To Switch Listing To NYSE
04/09/201211:21:13EARNINGS PREVIEW: Online Brokers Off To Good Start In 2012
03/20/201213:40:01RJ O'Brien Hires Former MF Executive In Retail Trading Push
03/14/201209:18:17US STOCK FUTURES: HOT STOCKS TO WATCH
03/13/201217:46:06Penson CFO McAleer To Retire; TD Ameritrade Executive Named As...
03/12/201210:44:39Cantor Names Head Of Business Targeting Retail Order Flow
03/08/201208:50:05TD Ameritrade Feb Trading Volume Down On Year, Up From Jan
02/15/201209:42:09Nearly Two-Thirds Of Americans To Save, Invest Tax Refunds -Ameritrade
02/14/201211:23:23TD Ameritrade Shareholders Approve Say-On-Pay Proposal On Executive...
02/10/201210:07:26E*Trade Names Two Board Members, Randall To Retire; Group To...
02/08/201216:23:24Schwab Capital In Focus As Money Market Fund Reform Looms
02/08/201209:22:03TD Ameritrade Jan Trading Volume Down On Year, Up From Quiet...
02/06/201209:49:3146% Of Younger Investors Plan To Raise Stock Bets In '12:Survey
01/23/201214:18:23NYSE Euronext Explores Adding Partners To Amex Joint Venture
01/17/201209:23:08CORRECT: TD Ameritrade:Averaging 345,000 Trades/Day Jan-To-Date
01/17/201209:03:01TD Ameritrade: Averaging 345,000 Trades Per Day January-To-Date
01/17/201208:34:49TD Ameritrade 1Q Net Up 4.8% On Cost Control, Revenue Misses...

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