TD Ameritrade Holding Corp.'s fiscal third-quarter profit rose
3.6% as average daily client trades improved by 8%.
For the quarter ended June 30, the online brokerage firm
reported earnings of $197 million, or 36 cents a share, up from
$190 million, or 34 cents a share, a year ago. Revenue increased to
$794 million from $763 million.
Analysts polled by Thomson Reuters had projected earnings of 36
cents a share and revenue of $797 million.
Average daily client trades totaled 434,000, up from about
401,000 a year ago. DARTs typically lag in the second quarter of
the calendar year in what is historically a slow trading
period.
Earlier this month, the online broker experienced trouble
routing orders for some of its retail clients, a problem attributed
to an overnight software update. The issue was resolved about 30
minutes after it was first noticed, and some affected customers
were reimbursed.
Rival Charles Schwab Corp. reported higher earnings last week on
greater fee and interest revenue. Rival E*Trade Financial will
report results this Thursday after the market close.
Shares have improved about 7% this year through Monday's
close.
Angela Chen contributed to this article.
Write to Daniel Huang at dan.huang@wsj.com
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