E*Trade Earnings: ETFC Stock Stalls on Mixed Q4 Report

E*Trade (NASDAQ:ETFC) earnings for the electronic trading company’s fourth quarter of 2019 have ETFC stock not moving after-hours on Thursday. This comes after reporting earnings per share of 76 cents. That’s well below Wall Street’s estimate of 83 cents. Revenue of $679 million is better than analysts’ estimates of $672.51 million.

E*Trade Earnings: ETFC Stock Stalls on Mixed Q4 Report

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Here’s what else is worth mentioning from the most recent E*Trade earnings report.

  • EPS is down 20.76% from $1.06 in the fourth quarter of 2018.
  • Revenue for the quarter comes in 7.62% lower from $735 million in the same period of the year prior.
  • The E*Trade earnings report also includes a net income of $172 million.
  • That’s a 36.30% drop from the company’s net income of $270 million from the same time last year.

Mike Pizzi, Chief Executive Officer of E*Trade, has this to say about the ETFC stock earnings report.

“This was another year marked by solid results, remarkable customer engagement, and significant achievements amid a dynamic and evolving operating environment.We enhanced our award-winning retail platform and #1-rated Corporate Services solution, expanded our Advisor Services offering, and generated our best year ever for customer trading, growth in customer cash, and stock plan implementations.”

The E*Trade earnings report also includes dividend news. The company is paying a dividend of 14 cents per share on March 2, 2020. It will be paid to ETFC stock investors that are on record as of Feb. 25, 2020.

ETFC stock was unmoving after-hours on Thursday. The stock closed out the day down almost 1%.

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/2020/01/etrade-earnings-report-etfc-stock/.

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