TD Ameritrade Q2 Revenue Misses Views

reported weaker-than-expected revenue for the first quarter. The Omaha, Nebraska-based company reported a quarterly profit of $189 million, versus a year-ago profit of $194 million. Its per-share earnings came in flat at $0.35 per share. Its revenue declined 1.1 percent to $803 million. However, analysts were expecting earnings of $0.36 per share on revenue of $821 million. Asset-based revenue climbed 3.8 percent to $439 million, while net interest revenue gained 2.1 percent to $149 million. Average daily client trades per day slipped 3.1 percent year-over-year to 476,590 in the quarter. Total commissions and transaction fees shrank 6.4 percent to $350 million. Net new assets increased to $16.3 billion, compared to $12.2 billion, a year ago. TD Ameritrade declared a quarterly cash dividend of $0.15 per share. The average estimate among 7 Estimize users was for earnings of $0.38 per share and revenue of $836.84 million. "Despite continued headwinds from a low interest rate environment, we have delivered 73 cents in earnings per share through the first two quarters of fiscal 2015 – the best first six-months in our company's history," said Bill Gerber, executive vice president and chief financial officer. "Strong transaction and asset-based revenues contributed to healthy net revenues of $803 million. Delivering shareholder value remains a priority for us, whether that be through strong organic growth, earnings, disciplined expense management or capital deployment – and we remain focused on all four." TD Ameritrade shares fell 1.45 percent to $35.90 in pre-market trading.