TD Ameritrade (AMTD - Free Report) just released its third-quarter financial results, posting adjusted earnings of $0.89 per share and revenues $1.38 billion.
TD Ameritrade is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of AMTD are up 23% over the last year and have sunk over roughly 3% in the last four weeks. TD Ameritrade stock popped 2.84% on Monday to hit $59.06 per share prior to the release of its Q3 earnings results.
AMTD stock is currently up 0.91% to $59.60 in after-hours trading shortly after its earnings report was released.
AMTD:
Beat earnings estimates. The company posted adjusted earnings of $0.53 per share, topping the Zacks Consensus Estimate of $0.89 per share. Investors should note that this consensus projection has trended downward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $1.38 billion, beating our consensus estimate of $1.35 billion.
TD Ameritrade’s average client trades per day surged 54% to hit approximately 784,000. Meanwhile, total client assets jumped 39% to $1.2 trillion. The company’s Q3 revenues jumped from $931 million the year-ago period.
Meanwhile, the Nebraska-based firm’s quarterly earnings skyrocketed 85%. “It was an excellent quarter as substantial expense reductions drove record net income and EPS. Investor engagement was robust, with strong client net buying,” CFO Steve Boyle said in a statement.
“At the same time, we’re clearly seeing the expected benefits of our Scottrade acquisition. In fact, we achieved many cost savings sooner than expected, with approximately $212 million in synergies realized through June. The strength of these results more than offset a slight decline in trading revenue compared to the prior record quarter.”
Here’s a graph that looks at AMTD’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on AMTD’s earnings report!
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TD Ameritrade (AMTD - Free Report) just released its third-quarter financial results, posting adjusted earnings of $0.89 per share and revenues $1.38 billion.
TD Ameritrade is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of AMTD are up 23% over the last year and have sunk over roughly 3% in the last four weeks. TD Ameritrade stock popped 2.84% on Monday to hit $59.06 per share prior to the release of its Q3 earnings results.
AMTD stock is currently up 0.91% to $59.60 in after-hours trading shortly after its earnings report was released.
AMTD:
Beat earnings estimates. The company posted adjusted earnings of $0.53 per share, topping the Zacks Consensus Estimate of $0.89 per share. Investors should note that this consensus projection has trended downward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $1.38 billion, beating our consensus estimate of $1.35 billion.
TD Ameritrade’s average client trades per day surged 54% to hit approximately 784,000. Meanwhile, total client assets jumped 39% to $1.2 trillion. The company’s Q3 revenues jumped from $931 million the year-ago period.
Meanwhile, the Nebraska-based firm’s quarterly earnings skyrocketed 85%. “It was an excellent quarter as substantial expense reductions drove record net income and EPS. Investor engagement was robust, with strong client net buying,” CFO Steve Boyle said in a statement.
“At the same time, we’re clearly seeing the expected benefits of our Scottrade acquisition. In fact, we achieved many cost savings sooner than expected, with approximately $212 million in synergies realized through June. The strength of these results more than offset a slight decline in trading revenue compared to the prior record quarter.”
Here’s a graph that looks at AMTD’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on AMTD’s earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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