TD Ameritrade Holding Corp. said it will report first-quarter earnings at the low end of its previous forecast, because daily average trading continued to dip last month.
Processing Content
The Omaha online brokerage said Friday that it expects to report earnings of around 23 cents a share. Previously it had forecast earnings of 23 to 29 cents a share.
The average estimate of analysts polled by Thomson Financial called for earnings of 25 cents a share.
TD Ameritrade said the average February daily total of client trades fell 4.3% from a year earlier, to 264,000 per trading day.
Toronto-Dominion Bank has a minority stake in TD Ameritrade, which had $278.2 billion of assets under management at yearend.
