TD Ameritrade (AMTD) Tops Q1 EPS by 3c

TD Ameritrade (NASDAQ: AMTD) reported Q1 EPS of $0.39, $0.03 better than the analyst estimate of $0.36. Revenue for the quarter came in at $812 million versus the consensus estimate of $811.55 million.

• Net new client assets of approximately $17 billion, an annualized growth rate of 10 percent
• Average client trades per day of approximately 438,000, an activity rate of 6.6 percent

“Our first quarter of fiscal 2016 was strong,” said Fred Tomczyk, chief executive officer. “Asset gathering is going particularly well, as we delivered our second best quarter ever – and a double-digit annualized growth rate. With the Federal Reserve raising interest rates for the first time in nine years and continued execution on our growth strategy going well, we are well-positioned for the current environment. We will continue along our path, investing thoughtfully in growth and building our long-term earnings power for the benefit of our clients, shareholders and associates.”

“Interest rate-sensitive assets ended the quarter at a record $110 billion, driven largely by growth in client cash balances – both as a result of strong organic growth and shifting investor sentiment in an uncertain market environment,” said Steve Boyle, executive vice president and chief financial officer. “We were pleased with our ability to keep expenses in check for the quarter, starting slow and maintaining our flexibility to ramp up prudently for both seasonal and opportunistic investment initiatives later in the year. We were able to return $129 million to our shareholders in the quarter through cash dividends and share repurchases and remain focused on executing a disciplined return of capital strategy throughout the rest of the year.”

For earnings history and earnings-related data on TD Ameritrade (AMTD) click here.

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