E*Trade Loss Narrows

NEW YORK ( TheStreet) -- E*Trade ( ETFC) 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.

To contact the writer of this article, click here: Maria Woehr.

To follow the writer on Twitter, go to http://twitter.com/newsgirlmw.

To submit a news tip, send an email to: tips@thestreet.com.

More from Stocks

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament