Ameritrade

(AMTD) - Get Report

lowered its fourth-quarter guidance as the company reported its new business growth for May.

The online broker now expects to earn between 2 cents and 4 cents a share in the third quarter, compared to the consensus estimate of 3 cents a share, according to Thomson Financial/First Call. For the fourth quarter, Ameritrade sees break-even results to earnings of 3 cents a share, below the consensus forecast of 5 cents.

The company expects net revenue of $95 million to $110 million for the third quarter, and $81 million to $105 million for the fourth quarter, compared with analyst estimates of third-quarter revenue of $104.15 million and fourth-quarter revenue of $108.5 million. Ameritrade sees its third- and fourth-quarter activity rate at 3.5% to 4% and 3.3% to 3.8%, respectively.

Ameritrade also said that in May it saw 25,000 new accounts created, bringing its total to 1.9 million with an average daily volume of 74,000 trades.

Shares of Ameritrade Holdings closed at $4.09 Thursday before the revised numbers.