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TD Ameritrade 4Q profit drops nearly 13 percent

TD Ameritrade 4Q profit drops nearly 13 percent

TD Ameritrade Holding Corp.'s fiscal fourth-quarter profit declined 13 percent as low interest rates and slower trading restricted the online brokerage's revenue
The Omaha-based company on Monday posted net income of $143 million, or 26 cents per share, in the quarter that ended Sept. 30. That's down from $164 million, or 29 cents per share, a year ago.
Ameritrade says its revenue declined 8 percent to $647 million from last year's $704 million.
Analysts surveyed by FactSet expected Ameritrade to report earnings per share of 28 cents on revenue of $667.2 million.
Ameritrade said it will increase its quarterly dividend to 9 cents per share from the current 6 cents, and the company predicted earning between $1 and $1.20 per share in fiscal 2013. Wall Street expects $1.05 a share.


Updated : 2021-07-24 20:28 GMT+08:00