TD Ameritrade (AMTD) Tops Q1 EPS by 30c, Beats on Revenues; Offers FY18 EPS Mid-Point Guidance Above Consensus

TD Ameritrade (NASDAQ: AMTD) reported Q1 EPS of $0.80, $0.30 better than the analyst estimate of $0.50. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.2 billion.

Fiscal 2018 OutlookThe Company has also updated its outlook for the 2018 fiscal year to reflect the new U.S. tax legislation. Using updated tax rates, the company expects GAAP earnings of $1.85 to $2.45 per diluted share, and Non-GAAP earnings of $2.55 to $3.05 per diluted share(1) for its 2018 fiscal year.

Financial results for the quarter ended Dec. 31, 2017 include the following:(2)

• Record net new client assets of approximately $26.5 billion, a growth rate of 9 percent
• Record average client trades per day of approximately 726,000, up 49 percent year over year
• Net revenues of $1.3 billion, 63 percent of which were asset-based
• Client assets of approximately $1.2 trillion, up 48 percent year over year
• $0.52 in GAAP earnings per diluted share, up 27 percent year over year, on net income of $297 million
• $0.80 in Non-GAAP earnings per diluted share(1), up 86 percent year over year
• Pre-tax income of $303 million, or 24 percent of net revenues
• Interest rate-sensitive assets(3) of $156 billion, up 25 percent year over year

GUIDANCE:

TD Ameritrade sees FY2018 EPS of $2.55-$3.05, versus the consensus of $2.62.

For earnings history and earnings-related data on TD Ameritrade (AMTD) click here.

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