TD Ameritrade Holding Corporation (AMTD) has reported 4.39 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $214 million, or $0.40 a share in the quarter, compared with $205 million, or $0.38 a share for the same period last year. Revenue during the quarter grew 6.86 percent to $904 million from $846 million in the previous year period. Non-interest income for the quarter rose 4.46 percent over the last year period to $468 million.
Net interest margin contracted 2 basis points to 1.41 percent in the quarter from 1.43 percent in the last year period.
However, the adjusted EBITDA for the quarter stood at $402 million compared with $387 million in the prior year period. At the same time, adjusted EBITDA margin contracted 128 basis points in the quarter to 44.47 percent from 45.74 percent in the last year period.
“Our record-breaking results reflect the powerful combination of strong investor engagement in the market within an improving interest rate environment. Both factors served as tailwinds further accelerating our continued organic growth and giving us the flexibility to respond to the competitive environment with lower pricing for all of our clients,” said Tim Hockey, president and chief executive officer. “Client asset inflows hit an all-time high as investors found value in our outstanding trading platforms, innovative tools, and broad product selection. We’re capturing money in motion and have plans firmly in place to help our industry-leading organic growth continue.”
Investments stood at $747 million as on Mar. 31, 2017. Shareholders equity was at $5,325 million as on Mar. 31, 2017.
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