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TD Ameritrade Holding
AMTD reported a 3.3% rise in its fiscal third-quarter profit.
The Omaha, Nebraska-based company posted its quarterly earnings of $190 million, or $0.34 per share, versus a year-ago profit of $184 million, or $0.33 per share.
Its revenue climbed 5.2% to $763 million. However, analysts were expecting earnings of $0.34 per share on revenue of $759 million.
TD Ameritrade's asset-based revenue rose 12% to $430 million, while fees from commissions and transactions declined 1.3% to $317 million.
The company reported net new client assets of $13.4 billion, compared to $10.8 billion in the year-earlier period. Average daily client trades rose 0.6% y/y to 401,468.
Order-routing revenue climbed to $72 million, versus $64 million.
Fred Tomczyk, president and chief executive officer said, “TD Ameritrade delivered strong results in the third quarter and we are on pace for another solid year of asset growth.”
TD Ameritrade shares fell 2.41% to $30.40 in pre-market trading.
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