TD Ameritrade beats by $0.02, beats on revs :
- Reports Q3 (Jun) earnings of $0.44 per share, $0.02 better than the Capital IQ Consensus of $0.42; revenues rose 11.1% year/year to $931 mln vs the $897.98 mln Capital IQ Consensus.
- Record net new client assets of approximately $22.0 billion, an annualized growth rate of 10 percent.
- Average client trades per day of approximately 510,000, up 10 percent year over year.
- Interest rate-sensitive assets(2) of $120 billion, up 6 percent year over year.
- "We're pleased to report another quarter of strong growth across all of our businesses," said Tim Hockey, TD Ameritrade president and chief executive officer. "Investors remained broadly engaged, with strong trading volumes despite persistent low market volatility. We're seeing healthy trends in new account growth and asset inflows from both new and existing clients, and our institutional channel continues to break records for asset gathering. Our technology pipelines are full of enhancements that address client irritants and introduce new, cutting edge solutions. We have a lot to feel good about, but as we plan for the close of the Scottrade acquisition on the horizon, we have much more yet to do."
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