LPL Financial (LPLA) Reports Q2 Revenues of $1.37B

LPL Financial (NASDAQ: LPLA) reported Q2 EPS of $1.42, $0.12 better than the analyst estimate of $1.30. Revenue for the quarter came in at $1.37 billion versus the consensus estimate of $1.36 billion.

"In the second quarter we remained focused on executing our business priorities and advancing our strategic plans, as we navigated the new operating environment,” said Dan Arnold, President and CEO. "This focus led to another quarter of solid business outcomes, including new highs for advisor recruiting and retention. We also made progress on our strategic priorities by announcing two acquisitions, enriching digital capabilities for advisors and their clients, continuing to transform our service model, and introducing new Business Solutions. As we look ahead, we see an opportunity to not just return to business as usual or a new normal, but rather create a future that is better than ever for our advisors and their clients.”

"We delivered another quarter of strong results as we continued to drive growth and remained disciplined on expenses,” said Matt Audette, CFO. "Our investments in technology, capabilities, and service over the last several years helped generate our highest quarterly organic growth rate and recruiting results. Looking forward, our financial strength positions us well to continue investing to drive organic growth while also staying flexible in our capital allocation plans as economic conditions evolve."

For earnings history and earnings-related data on LPL Financial (LPLA) click here.

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