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E*TRADE Beats Earnings, Revenue Estimates for 2Q17

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Part 3
E*TRADE Beats Earnings, Revenue Estimates for 2Q17 PART 3 OF 7

What Led E*TRADE’s Fees and Service Revenues to Rise in 2Q17?

Year-over-year and sequential increases

E*TRADE’s (ETFC) fees and service-related revenues increased 58% in 2Q17 compared to 2Q16. Its total fees and service-related revenues in 2Q17 stood at $98 million. 

In 2Q16, the company generated total fees and service-related revenues of $62 million. This substantial increase was mostly due to order flow revenues.

What Led E*TRADE’s Fees and Service Revenues to Rise in 2Q17?

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In 2Q17, E*TRADE generated order flow revenues of $34.0 million compared to $22.0 million in 2Q16, reflecting a 55% increase. However, advisory management fee-related revenues rose 50% in 2Q17 compared to 2Q16. In 2Q17, these revenues stood at $9.0 million compared to $6.0 million in 2Q16.

From January 2016 to June 2016, E*TRADE posted total fees and service-related revenues of $120.0 million. From January 2017 to June 2017, the company posted total fees and service-related revenues of $184.0 million, reflecting a 53% increase.

Book value per share

E*TRADE’s (ETFC) book value per share is $22.01. On the other hand, the book values per share of other brokerage giants (XLF) are as follows:

  • Gain Capital Holdings (GCAP): $5.72
  • Interactive Brokers Group (IBKR): $14.66
  • TD Ameritrade (AMTD): $10.09
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