E*Trade Profit Rises 44%

E*Trade Financial(ET Quote) reported a 44% gain in fourth-quarter earnings, led by higher revenue from trading commissions and the firm's banking operation.

In the quarter, the online financial services firm earned $129 million, or 32 cents a share, compared with $89.8 million, or 24 cents a share, in the year-ago period.

Excluding a one-time gain and merger-related charges, E*Trade earned 30 cents a share on an ongoing basis, which was 1 cent better than the Thomson Financial consensus estimate. ...