NEW YORK (

TheStreet

) --

E*Trade

(ETFC) - Get Report

reported a narrower loss than last year due to a loan loss reserve.

The broker reported a fourth quarter net loss of $24 million, or $0.11 loss per share, compared with a net loss of $67 million, or $0.36 loss per share, in the fourth quarter of 2009. The fourth quater results included a $60 million loan loss reserve. For the year the company reported a net loss of $28 million, or $0.13 loss per share, compared to a net loss of $1.3 billion, or $11.85 loss per share in 2009.

For the fourth quarter the company's revenue slid to $517.9 million, from $523.4 million in 2009. The results still beat analysts

expected earnings

of 4 cents a share on revenue of $322 million.

For the full year, the company reported total net revenue of $2.1 billion, compared with $2.2 billion in 2009.

--Written by Maria Woehr in New York.

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