Shares of TD Ameritrade Holding Corp. (AMTD, Financial) fell in after-hours trading on Monday after announcing its first-quarter results. The company registered earnings per share of 73 cents on revenue of $1.42 billion, a 57.1% year-over-year increase. The company fell short of earnings estimates by 1 cent, but managed to beat revenue expectations by $40 million.
During the quarter, net new client assets reached about $22.2 billion, which represents an annualized growth rate of 8%. The number of average client trades per day was 943,000, up 82% year over year. Client assets were $1.2 trillion, up 40% year over year.
Tim Hockey, president and CEO, commented on the company's integration with Scottrade, which exceeded expectations.
“With the Scottrade client conversion now successfully behind us, we are turning our focus to increasing our momentum and profitably growing our business," he said. "Further enhancing the client experience, investing in innovation and employee development, and increasing our competitive edge will be our priorities as we work through the balance of the fiscal year.”
Shares of Whirlpool Corp. (WHR, Financial) slid on the heels of the company reporting its financial results for the first quarter. The company posted earnings per share of $2.81 on revenue of $4.91 billion, which grew 2.5% year over year. The company fell short of earnings estimates by 15 cents and revenue expectations by $40 million.
By region, sales were negatively affected. Whirlpool Europe, Middle East and Africa reported first-quarter net sales of $1.1 billion, compared to $1 billion in the prior-year quarter. Excluding the impact of currency, sales declined 8.1%.
Latin America reported net sales of $898 million, compared to $921 million in the comparable period. Excluding the impact of currency, sales decreased 3.2%.
Whirlpool Asia reported first-quarter net sales of $448 million, compared to $435 million in the prior-year quarter. Excluding the impact of currency, sales decreased 1.9%.
Moreover, earnings before interest and taxes were $151 million, or 3.1% of sales, compared to $239 million, or 5% of sales, in the same quarter of the previous year.
Looking ahead, the company expects full-year 2018 GAAP earnings per diluted share between $12.30 and $13.30 and continues to expect ongoing earnings per diluted share in the range of $14.50 to $15.50.
Disclosure: The author holds no positions in any stocks mentioned.
