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Article: TD Ameritrade 3Q net income down 17 percent
- Article from:
- AP Online
- Article date:
- July 21, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Online brokerage TD Ameritrade Holding Corp. said Tuesday its third-quarter net income fell nearly 17 percent as low interest rates continued to restrict its revenue, but the results exceeded Wall Street expectations.
TD Ameritrade said the low interest-rate environment reduced the amount of interest revenue the company collects even though trading figures remained strong.
The Omaha-based company said it generated $170.5 million in net income, or 30 cents per share, in the quarter that ended June 30. A year ago, Ameritrade reported $204.4 million in net income, or 34 cents per share.
Without unusual items, TD Ameritrade would have earned 33 cents per share. The company said the unusual items ...