The company earned $49.9 million, or $0.12 a share, for the period ended June 27. In the year-earlier quarter, it made just $5.8 million, or $0.03 a share. Net revenues were also stronger, coming in at $188.5 million, 88% higher than the prior quarter's net revenues of $100.3 million.
Ameritrade's average daily trading volume also showed renewed signs of life, up 33% sequentially to 154,294. Client assets climbed to $48 billion, with customers opening 93,000 new accounts.
Other discount brokers have also enjoyed a resurgence in trading activity that is translating directly into better earnings. Charles Schwab
All three companies appear to be optimistic that the worst times are behind them, and shareholders who held on through the ugliness have been rewarded.
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