TD Ameritrade Slips 3.7% on Q2 Earnings Miss
In contrast to the bullish rise of the broader equities market on Wednesday, TD Ameritrade (NASDAQ: AMTD) stock traded down. The reason is clear -- the online securities brokerage didn't hit the average analyst estimate for quarterly profitability.
TD Ameritrade's Q2 of fiscal 2020 saw it book net revenue of $1.48 billion, almost 2% higher on a year-over-year basis. That bettered the collective analyst projection of $1.41 billion. On the bottom line the company's non-GAAP (adjusted) net profit fell 10% to $468 million, or $0.86 per diluted share. Prognosticators were anticipating $0.87, however.
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Source Fool.com
