Online Brokers
Online broker Ameritrade (AMTD) said it posted break-even results on a per-share basis in its fiscal fourth quarter, a better performance than analysts had anticipated.
Analysts expected a loss of 3 cents a share, according to First Call/Thomson Financial. Ameritrade earned $286,000 in the period ended Sept. 29, compared with a loss of $9.2 million, or 5 cents a share, a year earlier. Net revenue climbed to $133.8 million from $74.5 million. The company noted that it also lowered its cost per trade to $11.51, 36% better than the previous year's fourth quarter. "As the low-cost producer, Ameritrade owns the leanest model in the industry to sustain performance over the long-haul under any market conditions," Kurt Halvorson, who heads Ameritrade's back-office clearing subsidiary, said in a statement.TheStreet Premium Services
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