Online brokerage operator TD Ameritrade Holding Corp. (
) on Tuesday posted a steep decline in fiscal second quarter
earnings, but results still met analyst expectations.
The Omaha-based company reported fiscal second quarter net
income of $136.7 million, or 25 cents per share, compared with
$171.7 million, or 30 cents per share, in the year-ago period.
Revenue fell 6% from last year to $673.1 million, while
commissions and transactions fees fell 14% to $292.1 million.
On average, Wall Street analysts expected a matching profit of
25 cents per share, albeit on slightly lower revenue of $672
Although AMTD described its operating environment as
"difficult," although the average daily client trades at Ameritrade
were 388,000 - up from the prior quarter but still down from the
same period a year ago.
TD Ameritrade shares fell 17 cents, or -0.9%, in premarket
The Bottom Line
Shares of TD Ameritrade (
) have a 1.06% dividend yield, based on last night's closing stock
price of $18.78. The stock has technical support in the $16-$17
price area. If the shares can firm up, we see overhead resistance
around the $20-$21 price levels.
TD Ameritrade Holding Corp. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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