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TD Ameritrade Holding Corp. (NYSE: AMTD) 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.

Posted-In: profitEarnings News


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