E*Trade Q2 hit by balance sheet repositioning charge [Seeking Alpha]
E*TRADE FINANCIAL CORP (ETFC)
Last e*trade financial corp earnings: 4/23 04:05 pm
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US:NASDAQ Investor Relations:
about.etrade.com/index.cfm
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Source: Seeking Alpha
E*Trade Financial (NASDAQ: ETFC ) Q2 EPS of 90 cents fell from $1.09 in Q1 and 95 cents in Q2 2018. Excluding net losses of 22 cents related to losses from balance sheet repositioning partly offset by a benefit to provision for loan losses, EPS would have been $1.12, or 2 cents over the average analyst estimate of $1.10. ETFC in after-hours trading. Reports a new $1.5B share repurchase authorization. Net interest income of $490M slips from $492M in Q1,up from $453M in Q2 2018. Q2 adjusted operating margin of 42% vs. 50% in Q1. Adjusted return on common equity of 14% vs. 18% in Q1 Daily average revenue trades of 268K, down 4% Q/Q; average commission per trade fell to $7.14 from $7.17 in Q1. Net new accounts of 70K, down 48% Q/Q Conference call at 5:00 PM ET. Previously: E*TRADE Financial EPS misses by $0.19, misses on revenue (July 18) See all stocks on the move » Now read: The Race To Zero: Price Wars In The Asset Management Industry »
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