E-Trade reports Q1 EPS 88c, consensus 77c
Reports Q1 revenue $708M, consensus $676.07M. Operating margin for the quarter was 47 percent and adjusted operating margin was 44%. Reports Q1 DARTS of 309,000. "This was yet another quarter defined by meaningful progress in the business and excellent financial results, as we produced the strongest quarterly revenues and adjusted operating margin in Company history." said Karl Roessner, Chief Executive Officer. "Amid volatility's return to the market, our customers fully engaged, setting records across trading, margin balances, net asset flows, and net buying, and our teams and systems ably managed the significant increase in activity. Meanwhile, we remained steadfast in our drive to innovate-rolling out a series of enhancements to our trading tools, corporate services platform, and retail site. With our continued strong results, and the team's determination to win, we raise the bar on our own performance, and remain focused on delivering an exceptional experience for our customers and driving value for our shareholders."