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TD Ameritrade Earnings Up 35 Percent Year-Over-Year

TD Ameritrade Holding Corporation (NYSE: AMTD) has released operating results for the second quarter of fiscal 2014. The Company posted its second consecutive quarter of record net revenues, bolstered by the continued re-engagement of retail investors.

The Company’s results for the quarter ended Mar. 31, 2014 include the following: (1)
  • Net income of $194 million, or $0.35 per diluted share
  • Net new client assets of approximately $12.2 billion, an annualized growth rate of 8 percent
  • Record average client trades per day of approximately 492,000, an activity rate of 8.1 percent
  • Record net revenues of $812 million, 52 percent of which were asset-based
  • Investment product fee revenues of $75 million, up 21 percent year-over-year
  • Pre-tax income of $317 million, or 39 percent of net revenues
  • EBITDA (2) of $369 million, or 45 percent of net revenues
  • Interest rate sensitive assets (3) of $96 billion, up 9 percent year-over-year
  • Record client assets of approximately $617 billion, up 19 percent year-over-year

“TD Ameritrade’s earnings for the second quarter were up 35 percent year-over-year, driven by record trades per day as retail investor engagement continued to improve. In fact, our quarterly activity rate was the highest we’ve seen in a decade,” said Fred Tomczyk, president and chief executive officer. “Additionally, we continue to see strong asset gathering and demand for our guidance-based offerings. We remain focused on giving our clients access to a wide range of products, tools and education to help them pursue their goals.”

“TD Ameritrade delivered strong results in the second quarter with net revenues reaching a record $812 million, up 20 percent year-over-year,” said Bill Gerber, executive vice president and chief financial officer. “Trading reached record levels, asset gathering remained strong, fee-based investment balances were once again at a record high, and interest rate-sensitive assets were up 9 percent year-over-year. We will continue to focus on growing our earnings power and delivering long-term value to our shareholders.”

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