TD Ameritrade Holding Corp. (AMTD) Misses Q2 Earnings Expectations

AMTD shares took a slight dip after hours

TD Ameritrade Holding Corp. (NASDAQ:AMTD) announced its second-quarter results after the bell Monday, which came in below analysts’ expectations.

TD Ameritrade Holding Corp. (AMTD)For the quarter, the company said that it brought in net income of $271 million, or 48 cents per share, which was an improvement over its year-ago second quarter, when it brought in $214 million, or 40 cents per share. On an adjusted basis, the company attained earnings of 73 cents per share, below Wall Street’s consensus estimate of 74 cents per share, according to data compiled by FactSet.

On the revenue front, TD Ameritrade announced that it raked in $1.42 billion, 59% of which were asset-based and these marked a sizable gain from its year-ago revenue of $904 million. Analysts were calling for revenue of $1.38 billion, according to data compiled by FactSet.

For the second quarter, the company also raked in net new client assets of roughly $22.2 billion, an annualized growth rate of 8%. Its record average client trades per day came in at approximately 943,000, an 82% gain compared to the year-ago quarter.

TD Ameritrade’s total client assets amounted to roughly $1.2 trillion, marking a 40% increase year-over-year. “Early results of our dual strategy to successfully integrate Scottrade while continuing to accelerate and diversify revenue growth in our core business have exceeded our expectations,” said Tim Hockey, TD Ameritrade president and CEO, in a statement.

AMTD stock fell a fraction of a percentage after hours Monday.

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