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TD Ameritrade (AMTD): Q4 2019 Earnings Snapshot

— TD Ameritrade Holding Corporation (NASDAQ: AMTD) reported fourth-quarter 2019 adjusted earnings of $1.05 per share versus $0.98 per share expected.

— Net revenues increased by 11% to $1.56 billion versus $1.47 billion expected. The results were driven by higher asset-based revenues and an increase in commissions and transaction fees.

Earnings Update by AlphaStreet

— Average client trades per day rose by 5% to about 837,000. Net new client assets increased at an annualized rate of 7% to about $22 billion.

— Total trades rose by 7% to 53.2 million while average commissions per trade declined to $7.04 from $7.35 a year ago.

— For the first-quarter of 2020, earnings are expected to fall due to the elimination of commissions for the online exchange-listed stock, ETF and option trades from $6.95 to $0.

Read: Online brokers sink amid commission-free trades

— For fiscal 2020, the company expects revenue in the range of $4.9 billion to $5.3 billion and an operating expense of $2.8 billion to $3 billion.

— The company will lift quarterly cash dividend by $0.01 per share for fiscal 2020 to $0.31, a 3% increase from fiscal 2019. It has declared a $0.31 per share quarterly cash dividend, payable on November 19, 2019, to all holders of record of common stock as of November 5, 2019.

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