TD Ameritrade Holding Corp. (NASDAQ: AMTD) reported Monday that its fiscal second quarter earnings rose to $171.7 million, or 30 cents a share, from $162.6 million, or 27 cents a shares a year ago. Revenue climbed to $718.2 million, versus $635.4 million a year ago. Analysts, on average, expected the company to report earnings of 28 cents per share on revenue of $702.23 million.
"TD Ameritrade has delivered double-digit organic net new asset growth in eight of the last 10 quarters," said Bill Gerber, executive vice president and chief financial officer. "That bodes well for our future earnings power, as we have also reached a turning point with net yields from our insured deposit account increasing for the first time in over three years. Our strong cash position enabled us to continue our buy-back program, which together with our dividend payments, have resulted in our returning 48 percent of our net income to shareholders year-to-date."
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