TD Ameritrade Earnings Climb

TD Ameritrade Holding Corp. said Tuesday that its second-quarter profit climbed 8.5%, in line with Wall Street's estimates, as revenue at the brokerage rose amid increased client trading activity.

TD Ameritrade said interest rate-sensitive assets, which include spread-based assets and money market mutual funds, grew 11% to a record $112 billion in the quarter, with the firm pointing to organic growth and changing investor sentiment amid a volatile market environment.

In all, for the fiscal second quarter ended March 31, TD Ameritrade reported earnings of $205 million, up from $189 million a year earlier. On a per-share basis, earnings rose to 38 cents from 35 cents a year ago, meeting analysts' expectations.

Revenue increased to $846 million from $803 million, below analysts' projections of $856 million, according to Thomson Reuters.

In all for the period, TD's average daily trades rose 6.8% from a year earlier to 509,120.

The brokerage brought in $14 billion in net new client assets in the quarter, bringing total client assets to $711 billion, which the company said was a record.

The firm was also able to control expenses, which edged down 0.8% from the prior year.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

April 19, 2016 08:55 ET (12:55 GMT)

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