TD Ameritrade EPS Rises To 25 Cents (AMTD)

Omaha, Nebraska-based TD Ameritrade Holding Corporation AMTD on Tuesday morning released financial results that were in-line with Wall Street earnings expectations. TD Ameritrade Holding Corporation reported that its fiscal 1st quarter net income rose to $145 million, or 25 cents per share, up from $136. 2 million, or 23 cents per share, a year earlier. TD Ameritrade Holding Corporation reported revenue of $656.19 million, up from $624.62 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 25 cents per share, on revenue of $647.81 million. Executive vice president and chief financial officer Bill Gerber said, “TD Ameritrade delivered a very strong performance this quarter, growing revenues despite continued interest rate pressure. Net new assets were at the top of our forecasted range and interest rate sensitive assets are at record levels, positioning us well for an improved rate environment. In addition, our strong cash position enabled us to effectively return 55 percent of our net income to shareholders through a share buyback and recently announced quarterly dividend.” TD Ameritrade Holding Corporation (AMTD) ended the previous trading session at $20.65 per share. Analysts covering the company's stock have a consensus price target of $21.13 per share. TD Ameritrade Holding Corporation through its brokerage subsidiaries, combines innovative trading technology, easy-to-use-and-understand trading tools, investment services, investor education and superior client service to create a market-leading financial services experience. Read more from Benzinga's Company news.