E*TRADE Financial (ETFC) Tops Q1 EPS by 9c
E*TRADE Financial (NASDAQ: ETFC) reported Q1 EPS of $0.48, $0.09 better than the analyst estimate of $0.39. Revenue for the quarter came in at $553 million versus the consensus estimate of $532.54 million.
- Net income of $145 million; net income available to common shareholders of $132 million
- Diluted earnings per common share of $0.48
- Total net revenue of $553 million
- Net interest income of $319 million on average interest-earning assets of $48.7 billion; net interest margin of 263 basis points
- Allowance for loan losses of $213 million, resulting in a benefit to provision for loan losses of $14 million
- Total non-interest expense of $342 million
- Operating margin of 41 percent; adjusted operating margin of 38 percent(1)
- Daily Average Revenue Trades (DARTs) of 207,000; 29 percent in derivatives
- Customer margin balances(2) of $7.3 billion
- Net new brokerage accounts of 58,000; annualized growth rate of 6.7 percent
- Net new brokerage assets of $4.2 billion; annualized growth rate of 6.1 percent; end of period total customer assets of $336 billion
- Managed products of $4.3 billion
For earnings history and earnings-related data on E*TRADE Financial (ETFC) click here.