TD Ameritrade's Stock Higher By Nearly 2% Following Q1 Release

Shares of

were trading higher by nearly 2 percent at $29.50 early Wednesday morning after the company released its

. TD Ameritrade reported that it earned $0.39 per share in the first quarter on revenue of $812 million. Wall Street analysts were looking for the company to earn $0.36 per share on revenue of $812 million. TD Ameritrade disclosed a pre-tax income of $331 million and EBITDA of $387 million. The company also noted that its total client assets rose 3 percent from the same quarter a year ago to $695 billion as it gained new client assets of approximately $17 billion during the quarter, representing an annualized growth rate of 10 percent. "Our first quarter of fiscal 2016 was strong," said Fred Tomczyk, chief executive officer. "Asset gathering is going particularly well, as we delivered our second best quarter ever – and a double-digit annualized growth rate. With the Federal Reserve raising interest rates for the first time in nine years and continued execution on our growth strategy going well, we are well-positioned for the current environment. We will continue along our path, investing thoughtfully in growth and building our long-term earnings power for the benefit of our clients, shareholders and associates."