LPL Financial Announces Earnings Update for Third Quarter 2014
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LPL Financial (LPLA) Cuts Q3 Outlook
October 21, 2014 4:17 PM EDTLPL Financial (NASDAQ: LPLA) announced that it expects to incur greater than expected charges totaling $23 million in the third quarter associated with regulatory matters relating primarily to issues involving LPL Financial's systems, policies and procedures.
Net revenue for the third quarter is expected to be consistent with prior expectations, growing to approximately $1.1 billion. Due to the increased regulatory charges, the Company expects net income and diluted earnings per share to be in the range of $32 million to $34 million and $0.32 and $0.34 per share, respectively, for the third quarter. It is anticipated reported... More
