TD Ameritrade Holding Corporation (AMTD) has reported 1.89 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $216 million, or $0.41 a share in the quarter, compared with $212 million, or $0.39 a share for the same period last year. Revenue during the quarter grew 5.79 percent to $859 million from $812 million in the previous year period. Non-interest income for the quarter rose 6.90 percent over the last year period to $449 million.
Net interest margin contracted 13 basis points to 1.32 percent in the quarter from 1.45 percent in the last year period.
However, the adjusted EBITDA for the quarter stood at $396 million compared with $387 million in the prior year period. At the same time, adjusted EBITDA margin contracted 156 basis points in the quarter to 46.10 percent from 47.66 percent in the last year period.
“It was a quarter of significant change. We announced plans to acquire Scottrade ��" the largest transaction in our history. The Federal Reserve raised interest rates for the first time in 12 months, and we witnessed an historic election, the outcome of which brought retail investors back to the markets,” said Tim Hockey, president and chief executive officer. “Organic growth was strong. Trading was up 11 percent from a year ago, and we brought in $19 billion in net new client assets, as independent advisors brought in assets at record levels. We’re making progress on our core strategic initiatives, and these results give us momentum as we work together to deliver on our goals in the quarters ahead.”
Liabilities outpace assets growth
Total assets stood at $28,834 million as on Dec. 31, 2016, up 11.91 percent compared with $25,766 million on Dec. 31, 2015. On the other hand, total liabilities stood at $23,635 million as on Dec. 31, 2016, up 13.67 percent from $20,792 million on Dec. 31, 2015. Investments stood at $747 million as on Dec. 31, 2016, up 266.18 percent or $543 million from year-ago. Shareholders equity stood at $5,199 million as on Dec. 31, 2016, up 4.52 percent or $225 million from year-ago.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
