TD Ameritrade Q4 profit drops nearly 13% on low interest rates
October 31, 2012, 12:02 am TWN
OMAHA, Nebraska--TD Ameritrade Holding Corp. on Monday reported a 13 percent drop in its fiscal fourth-quarter profit as low interest rates and slower trading restricted the online brokerage's revenue.
The Omaha-based company posted net income of US$143 million, or 26 cents per share, in the quarter that ended Sept. 30. That's down from US$164 million, or 29 cents per share, a year ago.
Ameritrade says its revenue declined 8 percent to US$647 million from last year's US$704 million.