E*TRADE Financial just released its second quarter financial results, posting adjusted earnings of $0.95 per share and revenues of $710 million.
E*TRADE is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of E*TRADE are up 59% over the last year but have dipped 3% during the last four weeks. ETFC saw its stock price slip 3.04% on Thursday to hit $61.21 per share prior to the release of its quarterly earnings results.
E*TRADE stock is currently down 0.64% to $61.60 per share in after-hours trading shortly after its earnings report was released.
ETFC:
Beat earnings estimates. The company posted earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.89 per share. Investors should note that this consensus projection has trended upward during the quarter.
Beat revenue estimates. The company saw revenue figures of $710 million, topping our consensus estimate of $704.95 million.
E*TRADE’s quarterly revenues jumped roughly 23% from $577 million in the year-ago period. The financial services company’s operating margin for the quarter was 49%. “Our Corporate Services team onboarded nearly $11 billion in new plan assets during the quarter, while replenishing a strong pipeline,” CEO Karl Roessner said in a statement.
“We completed the acquisition of Trust Company of America, and our initiatives to generate value from this powerful combination are well underway. Our strong operational execution translated to stellar financial performance, as E*TRADE once again delivered solid revenue, while expanding our adjusted operating margin for the seventh consecutive quarter to 46%.”
Here’s a graph that looks at ETFC’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on ETFC’s earnings report!
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E*TRADE (ETFC) Tops Q2 Estimates
E*TRADE Financial just released its second quarter financial results, posting adjusted earnings of $0.95 per share and revenues of $710 million.
E*TRADE is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of E*TRADE are up 59% over the last year but have dipped 3% during the last four weeks. ETFC saw its stock price slip 3.04% on Thursday to hit $61.21 per share prior to the release of its quarterly earnings results.
E*TRADE stock is currently down 0.64% to $61.60 per share in after-hours trading shortly after its earnings report was released.
ETFC:
Beat earnings estimates. The company posted earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.89 per share. Investors should note that this consensus projection has trended upward during the quarter.
Beat revenue estimates. The company saw revenue figures of $710 million, topping our consensus estimate of $704.95 million.
E*TRADE’s quarterly revenues jumped roughly 23% from $577 million in the year-ago period. The financial services company’s operating margin for the quarter was 49%. “Our Corporate Services team onboarded nearly $11 billion in new plan assets during the quarter, while replenishing a strong pipeline,” CEO Karl Roessner said in a statement.
“We completed the acquisition of Trust Company of America, and our initiatives to generate value from this powerful combination are well underway. Our strong operational execution translated to stellar financial performance, as E*TRADE once again delivered solid revenue, while expanding our adjusted operating margin for the seventh consecutive quarter to 46%.”
Here’s a graph that looks at ETFC’s Price, Consensus and EPS Surprise history:
E*TRADE Financial Corporation Price, Consensus and EPS Surprise
E*TRADE Financial Corporation Price, Consensus and EPS Surprise | E*TRADE Financial Corporation Quote
Check back later for our full analysis on ETFC’s earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>