TD Ameritrade 1Q Net Up 4.8% On Cost Control, Revenue Misses Estimates

Date : 01/17/2012 @ 8:34AM
Source : Dow Jones News
Stock : TD Ameritrade Holding Corp. (MM) (AMTD)
Quote : 38.33  -0.53 (-1.36%) @ 4:22PM

TD Ameritrade 1Q Net Up 4.8% On Cost Control, Revenue Misses Estimates

TD AmeriTrade Holding Corp. (NASDAQ:AMTD)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more TD AmeriTrade Holding Corp. Charts.

TD Ameritrade Holding Corp.'s (AMTD) fiscal first-quarter earnings edged up 4.8% as a tight control on expenses helped the online brokerage offset a surprise decline in revenue.

The usual holiday slowdown in trading activity was more pronounced over the past few months as a deepening European sovereign debt pushed some retail investors to the sidelines. For the quarter ended Dec. 31, TD Ameritrade reported average daily client trades totaled 367,479, down 1.2% from a year earlier and 12% from the previous quarter.

Ameritrade, which has in recent quarters made strides in gathering new assets, also reported Tuesday it added $10.2 billion in net new assets for its fiscal first quarter, compared with $9.7 billion a year earlier and $12.4 billion in the previous quarter.

"We continue to execute well against our growth strategy in the face of a difficult market environment," said Chief Executive Fred Tomczyk.

For the quarter ended Dec. 31, the company reported a profit of $152 million, or 27 cents a share, up from $145 million, or 25 cents a share, a year earlier.

Net revenue slipped 0.4% to $653.4 million. Analysts surveyed by Thomson Reuters expected earnings of 26 cents a share on revenue of $671 million.

Operating expenses edged up 0.7% from a year earlier to $424.9 million. The brokerage has previously said it would tightly manage expenses in response to market and interest-rate challenges.

Shares closed Friday at $16.30 and were inactive premarket. The stock is up 4.2% so far this year.

 
   -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com 



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.