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Share Name | Share Symbol | Market | Type |
---|---|---|---|
TD Ameritrade Holding Corporation | NASDAQ:AMTD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 39.97 | 39.94 | 39.97 | 0 | 01:00:00 |
TD Ameritrade Holding Corp. said Tuesday that its second-quarter profit climbed 8.5%, in line with Wall Street's estimates, as revenue at the brokerage rose amid increased client trading activity.
TD Ameritrade said interest rate-sensitive assets, which include spread-based assets and money market mutual funds, grew 11% to a record $112 billion in the quarter, with the firm pointing to organic growth and changing investor sentiment amid a volatile market environment.
In all, for the fiscal second quarter ended March 31, TD Ameritrade reported earnings of $205 million, up from $189 million a year earlier. On a per-share basis, earnings rose to 38 cents from 35 cents a year ago, meeting analysts' expectations.
Revenue increased to $846 million from $803 million, below analysts' projections of $856 million, according to Thomson Reuters.
In all for the period, TD's average daily trades rose 6.8% from a year earlier to 509,120.
The brokerage brought in $14 billion in net new client assets in the quarter, bringing total client assets to $711 billion, which the company said was a record.
The firm was also able to control expenses, which edged down 0.8% from the prior year.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
April 19, 2016 08:55 ET (12:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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