FILE - In this Oct. 3, 2008 file photo, an office of online brokerage TD Ameritrade is shown in New York. Online investment broker TD Ameritrade said Tuesday, Oct. 25, 2011, its fiscal fourth-quarter profit shot up 44 percent, as turmoil in the markets drove heavy trading. (AP Photo/Mark Lennihan, File)
FILE - In this Oct. 3, 2008 file photo, an office of online brokerage TD Ameritrade is shown in New York. Online investment broker TD Ameritrade said Tuesday, Oct. 25, 2011, its fiscal fourth-quarter profit shot up 44 percent, as turmoil in the markets drove heavy trading. (AP Photo/Mark Lennihan, File)
NEW YORK (AP) ? Market turmoil during the summer helped push online investment broker TD Ameritrade Holding Corp's fiscal fourth-quarter profit up 44 percent.
The Omaha, Neb.-based company said Tuesday that it earned $163.7 million, or 29 cents per share, in the three months ended Sept. 30. That compares with $114 million, or 20 cents per share, in the year-ago quarter.
There were 2 percent fewer shares outstanding in the most recent quarter, the result of company buybacks.
Revenue rose 16 percent to $703.5 million, from $608.8 million last year.
The results fell short of Wall Street projections. Analysts, on average, had forecast profit of 31 cents per share, on revenue of $713.6 million, according to data provided by FactSet.
The July-to-September quarter, the worst in the markets since the 2008 economic crisis, saw average client trades per day of 415,739, up 31 percent from 317,684 per day last year.
Total trades reached 26.6 million for the period, up from 20.3 million. The average commissions and fees per trade slid 4 percent to $11.85.
TD Ameritrade said it saw 150,000 new accounts opened during the quarter, for a total of 5.6 million funded accounts. The company ended its fiscal year with a net gain of 162,000 accounts from the same period a year ago.
New client assets reached $12.4 billion during the period, which the company says translates to an annualized growth rate of 12 percent.
For the full fiscal year, TD Ameritrade earned $637.8 million, or $1.11 per share, up 8 percent from $592.2 million, or $1 per share, for fiscal 2010.
The company says it expects to earn between $1 and $1.35 per share for its next fiscal year. That range encompasses the $1.20 per share annual profit forecast by analysts.
Associated Presssons of anarchy season 3 hydrangeas charlie hunnam charlie hunnam life quotes beowulf beowulf
No comments:
Post a Comment