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TD Ameritrade Delivers Strong Third Quarter On Record Net Revenue

Stocks in this article: AMTD

Paragraph under "Company Hosts Conference Call" fourth sentence should read: A phone replay of the call will be available by dialing 855-859-2056 and entering the Conference ID 71491981 beginning at 11:30 a.m. EDT (10:30 a.m. CDT) on July 23, 2013 (sted A phone replay of the call will be available by dialing 855-859-2056 and entering the Conference ID 22315975 beginning at 11:30 a.m. EDT (10:30 a.m. CDT) on July 23, 2013).

The corrected release reads:


Net New Client Assets of $11B, up 11% Year-Over-Year

Record Net Revenues of $725M, up 9% Year-Over-Year

Diluted Earnings per Share of $0.33, up 18% Year-Over-Year

TD Ameritrade Holding Corporation (NYSE: AMTD) has released results for the third quarter of fiscal 2013. The Company ended the quarter with improved trading activity; record interest rate sensitive assets, record net revenues and record market fee-based revenue; and diluted earnings per share of 33 cents.

The Company’s results for the quarter ended June 30, 2013 include the following: (1)

  • Net income of $184 million, or $0.33 per diluted share
  • Net new client assets of approximately $11 billion, an annualized growth rate of 8 percent
  • Average client trades per day of approximately 399,000, an activity rate of 6.7 percent (2)
  • Record net revenues of $725 million, 53 percent of which were asset-based
  • Record market fee-based revenue of $65 million, up 23 percent year-over-year
  • Pre-tax income of $298 million, or 41 percent of net revenues
  • EBITDA (3)of $349 million, or 48 percent of net revenues
  • Record interest rate sensitive assets (4) of $94 billion, up 19 percent year-over-year
  • Client assets of approximately $524 billion

“TD Ameritrade had a strong third quarter in virtually all metrics, as we continue to execute well against our growth strategy while being disciplined on expenses,” said Fred Tomczyk, president and chief executive officer. “We had record interest rate sensitive assets, record net revenues and record market fee-based revenue during the quarter. We are encouraged by the increase in the yield curve and the more positive trends we’re seeing in terms of retail investor sentiment.”

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