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TD Ameritrade: Its Fiscal 3Q17 Beats in Earnings and Revenue

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Part 2
TD Ameritrade: Its Fiscal 3Q17 Beats in Earnings and Revenue PART 2 OF 8

Why TD Ameritrade’s Net Revenues Rose

Net interest revenue

TD Ameritrade Holding’s (AMTD) net revenues rose from $838.0 million in fiscal 3Q16 to $931.0 million in fiscal 3Q17. The substantial rise was a result of increased investment product fee-related revenues and net interest revenues compared to fiscal 3Q16. In fiscal 3Q17, net interest revenues stood at $175.0 million compared to $143.0 million in 3Q16, which reflects a 22.0% rise. However, in fiscal 3Q17, investment product fee-related revenues stood at $112.0 million compared to $96.0 million in fiscal 3Q16, reflecting a rise of 17.0%.

Why TD Ameritrade’s Net Revenues Rose

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TD Ameritrade witnessed a marginal decline in its commission and transaction fee-related revenues in fiscal 3Q17 compared to fiscal 3Q16. In 3Q17, they were $335.0 million compared to $347.0 million in 3Q16, which reflects a marginal fall of 3.0%.

From fiscal 1Q17 through fiscal 3Q17, AMTD generated commission and transaction fee-related revenues of $1.05 billion. From fiscal 1Q16 through fiscal 3Q16, those revenues were $1.03 billion, reflecting a rise of 2.0%.

Expected net income

In fiscal 4Q17, TD Ameritrade (AMTD) is expected to post net income of $235.3 million. Expected net income of other brokerage companies (XLF) for 3Q17 are as follows:

  • Charles Schwab (SCHW): $558.6 million
  • Interactive Brokers Group (IBKR): $23.9 million
  • E*Trade Financial (ETFC): $135.1 million
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