An earlier version of this story incorrectly stated TD Bank was parent co.
of TD Ameritrade
NEW YORK (Thomson Financial) - TD Bank Financial Thursday said it expects TD
Ameritrade's second-quarter earnings to translate into a contribution of C$67
million to its wealth management unit's second-quarter net income.
TD Bank is a major shareholder of TD Ameritrade with roughly a 40% stake in
the company.
Earlier Thursday, TD Ameritrade said second-quarter net income was $186.7
million, or 31 cents a share, while revenue was $622.9 million. The mean
estimate of analysts polled by Thomson Financial was for earnings of 31 cents a
share and revenue of $615.7 million.
Shares of TD Bank closed Wednesday at $63.16 while TD Ameritrade closed at
$17.58.
Ryan Vlastelica
rv/pc/mb
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