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TD Ameritrade (AMTD) Tops Q3 Revenue Estimates, Earnings Surge 85%

Benjamin Rains
Updated

TD Ameritrade AMTD 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.

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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:

TD Ameritrade Holding Corporation Price, Consensus and EPS Surprise

TD Ameritrade Holding Corporation Price, Consensus and EPS Surprise | TD Ameritrade Holding Corporation Quote

Check back later for our full analysis on AMTD’s earnings report!

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