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TD Ameritrade down 2.1% after earnings miss

Published 04/23/2018, 04:20 PM
© Reuters.  TD Ameritrade down 2.1% after earnings miss
AMTD
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  • FQ2 adjusted net income of $414M or $0.73 per share vs. $231M and $0.44 a year ago.
  • Commissions and transaction fees of $556M vs. $365M a year ago. Net interest revenue of $308M doubled; Bank deposit account fees of $381M vs. $269M; Investment product fees of $141M vs. $103M.
  • Net new assets of $22.2B during quarter, or annualized growth rate of 8% down from 10% a year ago. Average client trades per day of 943K up from 517K. Average commissions per trade dips to $7.50 from $8.79.
  • Back to that doubling in net interest revenue: Average yield paid on deposits of 1.29% up 16 basis points Y/Y while average yield earned of 3.86% up 136 basis points.
  • Conference call tomorrow at 8:30 ET
  • Previously: TD Ameritrade misses by $0.01, beats on revenue (April 23)
  • AMTD -2.1% after hours
  • Now read: This High-Yield BDC Will Be Cutting Its Dividend Soon


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