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TD Ameritrade Crushes Estimates for Q3

TheMotleyFool

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Collectively, analysts following the fortunes of online brokerage TD Ameritrade (NASDAQ: AMTD) were expecting the company to have a good quarter, but not this good.

TD Ameritrade reported on its third quarter of fiscal 2020, and some of its results were quite impressive. Net revenue increased by 6% year over year to almost $1.59 billion on the back of daily average revenue trades (DARTs, a crucial yardstick for brokerages) that rose more than fourfold to hit a new quarterly record of 3.4 million. Meanwhile, adjusted net income shot 26% higher to $591 million, or $1.09 per share.

Image source: Getty Images.

Source Fool.com

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