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E*Trade climbs 2.8% after earnings beat

Apr. 20, 2017 4:32 PM ETE*TRADE Financial, LLC (ETFC) StockETFCBy: Stephen Alpher, SA News Editor
  • Q1 net income of $145M or $0.48 per share not necessarily comparable to income of $153M and $0.53 a year ago. Net revenue of $553M up from $472M.
  • Adjusted operating margin of 38% up 400 basis points Y/Y.
  • Net interest margin of 263 bps down 18 bps; interest-earning assets of $48.7B up 19%.
  • DARTs of 207.2K up 25% from Q1 one year ago. Average commission per trade of $9.87 down 7%. Customer margin balances of $7.3B up 16%.
  • Loan loss provision benefit of $14M for quarter vs. benefit of $18M a year ago.
  • Conference call at 5 ET
  • Previously: E*TRADE Financial beats by $0.09, beats on revenue (April 20)
  • ETFC +2.8% after hours

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