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E*Trade Profit Up

The online broker narrows its full-year guidance.


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, the online broker and bank, reported a 43% gain in third-quarter profit, but squeezed its full-year earnings guidance.

In the quarter, the online financial-services firm earned $153 million, or 35 cents a share, compared to $107 million, or 28 cents a share, a year ago. Excluding acquisition-related costs, the company says it earned 36 cents a share.

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Net revenue rose 39% to $581 million.

Excluding acquisition costs, earnings matched the Thomson Financial estimate. Revenue, however, fell short of the consensus estimate of $595 million.

The broker also narrowed its full-year operating earnings guidance to between $1.45 and $1.50 a share. The earlier range was between $1.42 and $1.52 a share. Before the new guidance, analysts were predicting E*Trade would earn $1.47 a share for the full-year.

Commissions from stock trades rose 17% to $133 million. Net operating interest income--which mainly represents the profit from E*Trade's online bank--rose 64% to $355 million.

Shares of E*Trade closed Wednesday at $22.80, down 27 cents, or 1%. In afterhours trading, the stock was trading down 6 cents.