TD Ameritrade Profit Edges Higher
October 27 2015 - 8:40AM
Dow Jones News
TD Ameritrade Holding Corp. on Tuesday reported a 2.4% increase
in quarterly profit, as volatility in global markets drove strong
trading activity.
Still, revenue growth was slightly weaker than Wall Street had
expected.
For the fiscal fourth quarter ended Sept. 30, the online
brokerage firm reported earnings of $216 million, or 40 cents a
share, up from $211 million, or 38 cents a share, a year ago.
Revenue rose to $831 million from $795 million a year earlier.
Analysts polled by Thomson Reuters had projected earnings of 40
cents a share and revenue of $833.6 million.
The brokerage brought in $16 billion in net new client assets in
the most recent quarter, bringing total client assets to $667
billion.
TD Ameritrade forecast earnings of $1.45 to $1.75 a share for
its newly started fiscal year. Analysts polled by Thomson Reuters
had recently forecast earnings of $1.67 a share.
Rival Charles Schwab Corp. earlier this month posted profit and
revenue that met Wall Street expectations, as choppy markets helped
drive trading revenue higher but damped fee growth.
E*Trade Financial Corp. reported a third-quarter loss after
recording charges during the period related to the termination of
its wholesale funding obligations.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 27, 2015 08:25 ET (12:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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