Depite weaker metrics than in Q2, the discount brokerage reported a 4% rise in revenues YoY, driven by strong growth in trading.
One of the biggest online Stock Brokers in the U.S.,TD Ameritrade Holding Corp (NYSE: AMTD), has released its results for the third quarter of fiscal 2015. Overall, the Omaha-based company was down against Q2 results, but showed steady YoY growth.
Indeed, the discount brokerage reported a 4% rise in revenues YoY, driven by strong growth in trading.
The Company gathered approximately $11.7 billion in net new client assets, which represents a steady annualized growth rate of 7%, although down from double-digit growth figures in Q2, when the company delivered $16.3 billion in net new client assets.
The company's net income rose to $197 million in Q3, or 36 cents per share, from $190 million, or 34 cents per share, a year earlier.
The firm also reported 434,000 average client trades per day, down from 477,000 in Q2, but up 7.9% YoY, while net revenue rose 4.1 % YoY to $794 million, down from Q2 net revenues of $803 million.
Commenting on the results, Fred Tomczyk, President and Chief Executive Office, said, “As we complete our third quarter and look back on the last nine months, we remain upbeat about our growth and prospects for another strong year.”
“We continue to execute well against our growth strategy, with $47 billion in net new client assets gathered year-to-date, an organic growth rate of 10 percent and up 17 percent over last year. Likewise, average client trades per day, year-to-date, are 456,000, up 5 percent over last year. This leaves us with good momentum, and we will continue to invest in organic growth initiatives.”
Bill Gerber, Executive Vice President and Chief Financial Officer, added: “Net revenues were up 4 percent from last year, driven by continued growth in trading and asset gathering. Year-to-date, earnings per share of $1.09 were up 5 percent, despite a continued difficult macroeconomic environment.”
One of the biggest online Stock Brokers in the U.S.,TD Ameritrade Holding Corp (NYSE: AMTD), has released its results for the third quarter of fiscal 2015. Overall, the Omaha-based company was down against Q2 results, but showed steady YoY growth.
Indeed, the discount brokerage reported a 4% rise in revenues YoY, driven by strong growth in trading.
The Company gathered approximately $11.7 billion in net new client assets, which represents a steady annualized growth rate of 7%, although down from double-digit growth figures in Q2, when the company delivered $16.3 billion in net new client assets.
The company's net income rose to $197 million in Q3, or 36 cents per share, from $190 million, or 34 cents per share, a year earlier.
The firm also reported 434,000 average client trades per day, down from 477,000 in Q2, but up 7.9% YoY, while net revenue rose 4.1 % YoY to $794 million, down from Q2 net revenues of $803 million.
Commenting on the results, Fred Tomczyk, President and Chief Executive Office, said, “As we complete our third quarter and look back on the last nine months, we remain upbeat about our growth and prospects for another strong year.”
“We continue to execute well against our growth strategy, with $47 billion in net new client assets gathered year-to-date, an organic growth rate of 10 percent and up 17 percent over last year. Likewise, average client trades per day, year-to-date, are 456,000, up 5 percent over last year. This leaves us with good momentum, and we will continue to invest in organic growth initiatives.”
Bill Gerber, Executive Vice President and Chief Financial Officer, added: “Net revenues were up 4 percent from last year, driven by continued growth in trading and asset gathering. Year-to-date, earnings per share of $1.09 were up 5 percent, despite a continued difficult macroeconomic environment.”
Interactive Brokers Settles Nasdaq Charges, Agrees to $475,000 Fine
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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