E*Trade Earnings: ETFC Stock Dips 1% Lower on Q3 Earnings Report

ETFC is down despite beating estimates

E*Trade (NASDAQ:ETFC) earnings for the trading company’s third quarter of 2019 has ETFC stock down in after-hours trading Thursday. This comes from diluted earnings per share of $1.08 on revenue of $767 million. These are both above Wall Street’s estimates of $1.01 per share and $742.96 million.

E*Trade Earnings: ETFC Stock Dips 1% Lower on Q3 Earnings Report
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Let’s get a better look at the most recent E*Trade earnings report.

  • Diluted EPS for the quarter is up 6.93% YoY from $1.00.
  • Revenue comes in at 11.97% above the $658 million reported in the third quarter of 2018.
  • ETFC notes that this is record revenue for the company.
  • The E*Trade earnings report also includes net income of $274 million.
  • That’s a 25.11% increase over its net income of $219 million from the same time last year.

Mike Pizzi, CEO of ETFC, says this about the E*Trade earnings report.

“This past quarter was marked by record net revenue, strong operating results and customer engagement, as well as a myriad of accolades for the intuitive experience we deliver to our customers time and again.”

The E*Trade earnings report has it announcing a dividend for holders of ETFC stock. This dividend is 14 cents per share and will be payable on Nov. 15, 2019. Shareholders must be on record as of Nov. 8, 2019 to get the dividend.

E*Trade will be holding a conference call at 5:00 p.m. Eastern Time to go over the results of its third-quarter earnings report.

ETFC stock was down 1.61% after the markets closed on Thursday. The stock finished the day without much change from yesterday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/etrade-earnings-drop-etfc-stock/.

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