E*TRADE Financial (ETFC) Tops Q1 EPS by 9c

E*TRADE Financial (NASDAQ: ETFC) reported Q1 EPS of $0.48, $0.09 better than the analyst estimate of $0.39. Revenue for the quarter came in at $553 million versus the consensus estimate of $532.54 million.

• Net income of $145 million; net income available to common shareholders of $132 million
• Diluted earnings per common share of $0.48
• Total net revenue of $553 million
• Net interest income of $319 million on average interest-earning assets of $48.7 billion; net interest margin of 263 basis points
• Allowance for loan losses of $213 million, resulting in a benefit to provision for loan losses of $14 million
• Total non-interest expense of $342 million
• Operating margin of 41 percent; adjusted operating margin of 38 percent(1)
• Daily Average Revenue Trades (DARTs) of 207,000; 29 percent in derivatives
• Customer margin balances(2) of $7.3 billion
• Net new brokerage accounts of 58,000; annualized growth rate of 6.7 percent
• Net new brokerage assets of $4.2 billion; annualized growth rate of 6.1 percent; end of period total customer assets of $336 billion
• Managed products of $4.3 billion

For earnings history and earnings-related data on E*TRADE Financial (ETFC) click here.

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