TD AMERITRADE Earnings: Here’s Why Investors are Excited Now
TD AMERITRADE Holding Corporation (NASDAQ:AMTD) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.99%.
TD AMERITRADE Holding Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4% to $0.26 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Rose 0.65% to $679 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TD AMERITRADE Holding Corporation reported adjusted EPS income of $0.26 per share. By that measure, the company missed the mean analyst estimate of $0.26. It beat the average revenue estimate of $674.49 million.
Quoting Management: “Halfway through fiscal 2013, following the two best quarters for asset gathering in our history, we have gathered a record $29 billion in net new client assets. In addition, we have increased our market fee-based revenue for the first six months by 32 percent year-over-year and kept our expenses well in check,” said Fred Tomczyk, president and chief executive officer. “While retail investor sentiment has improved, a large number of investors remain cautious in this environment, and yet we continue to execute well against our strategy and on the items we can control.”
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