Signs Point to Additional Benefits From Scottrade Flowing Into TD Ameritrade’s Earnings
Narrow-moat TD Ameritrade’s fiscal first-quarter results show tailwinds in its core business and demonstrate the transformative nature of the Scottrade acquisition. The company reported pro forma net income, which primarily excludes acquisition-related costs, of $455 million, or $0.80 per diluted share, for the quarter ended December 2017, versus $230 million, or $0.43 per diluted share, a year ago. This was the first full quarter that included Scottrade’s results, and that led to net revenue in...
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