OMAHA, Nebraska — Online brokerage TD Ameritrade says its fiscal third-quarter profit grew roughly 4 percent thanks to strong trading and growth in client assets.
The Omaha, Nebraska-based company said Tuesday it generated $197 million net income, or 36 cents per share. That's up slightly from last year's $190 million, or 34 cents per share.
TD Ameritrade's revenue also grew 4 percent to $794 million as the company handled an average of 433,759 trades per day and held $702.3 billion in client assets.
The analysts surveyed by FactSet expected earnings per share of 36 cents on $797 million revenue.
TD Ameritrade makes money from trading commissions and generates revenue from assets it holds for clients and fees for advice.
TD Ameritrade CEO Fred Tomczyk says he remains optimistic about another solid year.
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From Source: http://www.dailyjournal.net/view/story/d7e05df06ceef21d67b2dd0062e1c2e9/US--Earns-TD-Ameritrade
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