April 23, 2014 / 12:38 PM / 3 years ago

TD Ameritrade 2nd quarter profit up 35 pct on net new assets

NEW YORK, April 23 (Reuters) - TD Ameritrade Holding Corp , the biggest U.S. discount broker as measured by client trades, said profit in its fiscal second quarter jumped 34.7 percent to $194 million on record revenue driven by net new client assets of $12.2 billion.

The profit translates to 35 cents a share, also up 35 percent from the year-earlier quarter and consistent with the forecast of analysts tracked by Thomson Reuters I/B/E/S.

The Omaha, Nebraska-based company said average client trades per day, fee-based investment balances and total client assets all hit record levels during the quarter that ended on March 31. TD Bank Group, the parent of Toronto-Dominion Bank that is the brokerage firm’s largest shareholder, said TD Ameritrade’s results should contribute about C$78 million to its yet-to-be reported second-quarter net income.

Reporting By Jed Horowitz

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below