TD Ameritrade Holding Corp. (NASDAQ: AMTD) stock trades in red post weak second quarter

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TD Ameritrade Holding Corp. (NASDAQ: AMTD) fell 3.9% (as of 24 Apr, 1:14 PM GMT-4; Source: Google finance) as the second quarter of FY 18 has reported the adjusted earnings per share of 73 cents, missing the analysts’ estimates for the adjusted earnings per share of 74 cents, according to data compiled by FactSet. However, the company had reported the adjusted revenue of $1.42 billion in the second quarter of FY 18, beating the analysts’ estimates for revenue of $1.38 billion. Overall, AMTD has reported a 27 percent jump in its fiscal second-quarter earnings as trading surged with market volatility and last year’s acquisition of rival Scottrade.

Meanwhile, in the second quarter, market volatility returned in full force as the implications of tax reform became clearer,interest rates continued to rise, and tariff talks affected the markets. These events led to record revenue in the second quarter and more than offset some volatility-related losses. Scottrade expense synergies continues to remain on track, and the company expect total operating expenses to decline significantly over the remainder of the FY 18. Leading with technology is a key focus that necessitates continued investment in order to boost the company’s offerings and drive efficient growth in the future

Moreover, for the second quarter, the company also raked in net new client assets of approximately $22.2 billion, which is an annualized growth rate of 8%. The company’s record average client trades per day came in at approximately 943,000, which is an 82% gain compared to the year-ago quarter.

TD Ameritrade’s total client assets amounted to roughly $1.2 trillion, marking a 40% increase year-over-year.

TD Ameritrade

Additionally, for 2018, AMTD expects Non-GAAP diluted earnings per share to be in the range of $2.55 – $3.05. Amortization of acquired intangible assets for 2018 is expected to be in the range of $0.25 – $0.25.      Acquisition-related expenses for 2018 is expected to be in the range of $0.72 – $0.56  and Income tax effect of above adjustments for 2018 is expected to be in the range of ($0.27) – ($0.21)

The company has declared a 21 cent per share quarterly dividend to be paid on May 22nd,2018. The company has paid $119 million, or $0.21 per share, in cash dividends in its second fiscal quarter.

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