TD Ameritrade Falls Shy of Estimates - TheStreet

TD Ameritrade Falls Shy of Estimates

TD Ameritrade missed analysts' estimates on its top and bottom lines for its fiscal first quarter.
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OMAHA, Neb. (

TheStreet

) --

TD Ameritrade

(AMTD) - Get Report

posted fiscal first-quarter earnings of $136.2 million, or 23 cents a share, below year-earlier net income of $184.4 million, or 31 cents a share.

Analysts surveyed by Thomson Reuters expected earnings of 26 cents a share.

TD Ameritrade reported net revenue in the quarter of $625 million from $610.7 million in year-earlier period; analysts estimated revenue of $634.05 million.

TD Ameritrade said net new client assets in the quarter were $8.7 billion, for an annualized growth rate of 12% on beginning client assets.

-- Reported by Joseph Woelfel in New York.

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