1Q18 earnings per share
On April 19, E*TRADE Financial Corporation (ETFC) posted 1Q18 earnings per share (or EPS) of $0.88, which beat analysts’ estimates by $0.12. Brokerages (XLF) benefit from increased volatility, as they experience strong trading volumes and increased trading revenues. E*TRADE’s results also benefited from the strong trading volumes in 1Q18.
In 1Q18, E*TRADE’s peers Charles Schwab Corporation (SCHW) and Interactive Brokers Group (IBKR) exceeded analysts’ expectations on their EPS. However, TD Ameritrade Holding Corporation’s (AMTD) EPS results missed analysts’ expectations.
E*TRADE’s revenues in 1Q18
E*TRADE (EFTC) reported revenues of $708.0 million in 1Q18, which exceeded analysts’ predictions by ~$33.4 million. E*TRADE’s CEO, Paul Idzik, discussed the favorable analyst views on the company’s 1Q18 results. He added that E*TRADE’s financial results and its business experienced favorable momentum in the quarter.
Idzik noted that due to volatility in the equity markets, active participation from E*TRADE’s clients was visible in these results, which resulted in favorable momentum in its buying activity and trading. This momentum was also visible in its asset flows and margin balances.
E*TRADE has been working to enhance its corporate services platform and trading tools. The company has also been working on its retail online platform.
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