TD Ameritrade Holding Corp. on Tuesday reported better-than-expected quarterly results, boosted by increased commissions and fees and a favorable tax-liability adjustment.

The brokerage reported earnings of $240 million, or 45 cents a share, for the fiscal third quarter ended June 30, up from $197 million or 36 cents a share a year ago. The latest period included a boost of $33 million, or 6 cents a share, from the tax-liability adjustment.

Revenue rose 5.5% to $838 million.

Analysts polled by Thomson Reuters expected a profit of 38 cents a share on revenue of $830 million.

TD Ameritrade President Tim Hockey said results for the quarter reflected mixed investor sentiment. "Long-term investors expressed some reticence to move new money, while traders increased their equity exposure. Both segments were opportunistic, using events like the historic Brexit vote, to lean into the market decline," he said.

The U.K.'s June vote to exit the European Union inspired a flood of trades that roiled markets, caused trading-volume spikes and clogged online platforms such as TD Ameritrade and Fidelity Investments.

Mr. Hockey said he expects such bouts of volatility to continue.

TD Ameritrade said it realized $14 billion in new client assets in the third quarter, a 16% rise from a year ago, bringing total client assets up 5% to $736 billion.

The company said it saw an average of 462,000 client trades a day, an increase of more than 6%. Revenue from commissions and transaction fees rose 5.8%.

TD Ameritrade shares, which have fallen 6% over the past three months, were inactive premarket.

Write to Brittney Laryea at b rittney.laryea@wsj.com

(END) Dow Jones Newswires

July 19, 2016 09:45 ET (13:45 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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