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TD Ameritrade Quarterly Earnings Jump 31%

|Includes:TD Ameritrade Holding Corporation (AMTD)

Originally published at www.seclive.com

TD Ameritrade Holding Corporation (NASDAQ:AMTD) announced its first quarter results for the 2014 fiscal year, posting earnings that jumped 31% from a year ago. TD Ameritrade, the largest online brokerage firm by trading activity, reported earnings of $192M and $0.35 per share, up from $147M and $0.27 per share a year ago. The company's net revenue increased 16% to $752M, which was propelled by its commissions and transaction fees growing 28% to $328M, contributing the most to the company's bottom line. Measuring activity, TD Ameritrade has increased its daily client trades by 24% to 414,000, a substantial move forward from a year ago. The company added $14.5B in net new assets, a small decline from the $15.6B a year ago, but a large step from the sequential quarter with $10.1B. Analysts believe online trading activity from individual investors will improve thanks to an improving stock market.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: AMTD