TD Ameritrade reports Q2 adjusted EPS 93c, consensus 92c
Reports Q2 revenue $1.5B, consensus $1.46B. Reports net new client assets of approximately $20 billion, an annualized growth rate of 7 percent. "Markets rebounded in the quarter with the S&P 500 climbing more than 13 percent as stocks rounded out one of the best quarters in nearly 10 years. At the same time, reaction to the market correction at the end of 2018, and worries about a slowing global economy, tempered some investor engagement," said Tim Hockey, TD Ameritrade president and chief executive officer. "It's important for us to help our clients understand why these market conditions matter to them so they can make the appropriate investments to meet their needs."