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TD Ameritrade CEO Breaks Down Earnings and 2019 Outlook

Video Credit: The Street - Duration: 01:16s - Published < > Embed
TD Ameritrade CEO Breaks Down Earnings and 2019 Outlook

TD Ameritrade CEO Breaks Down Earnings and 2019 Outlook

TD Ameritrade's earnings beat expectations.

The company posted an EPS of $1.07 a share, which beat FactSet expectations of 96 cents a share.

Tim Hockey, CEO of TD Ameritrade, sat down with TheStreet to discuss the earnings.

"We had a very strong start to fiscal 2019 with record asset gathering in both our retail and institutional channels.

After a year of transition, we achieved double-digit net new asset growth rates," said Hockey in the company's press release.

"Trading was also strong in the quarter with 14 days eclipsing 1 million trades, and mobile trading reaching new highs, averaging 240,000 mobile trades per day - up more than 50 percent from last year." David Butler, a Real Money contributor, wrote about TD's earnings.

"The beauty of an online brokerage like this is they make money even when there's big downside movements in the market.

As long as trading volume goes up, they'll bring in revenue.

As more and more people get it in their heads that they can manage their own money (for better or worse), or realize the savings potential of a discount online broker, I think these brokerages will continue to succeed," wrote Butler.

"The integration of the company's merger with Scottrade has only helped AMTD leverage its size within the industry." Watch to see what Hockey has to say.

Follow us on Twitter @TheStreet; TheStreet: Investing Strategies on Youtube or check out our podcasts on SoundCloud at TheStreetLive.

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