News Summary: TD Ameritrade 1Q profit up 31 pct

AP News
Posted: Jan 21, 2014 4:14 PM

TAKING STOCK: The number of trades TD Ameritrade handled jumped 24 percent during the last three months of 2013 to an average of 413,743 trades per day as the outlook for the market grew more certain.

PROFITABLE PERIOD: TD Ameritrade's net income soared 31 percent to $192 million in its fiscal first quarter and beat Wall Street expectations.

SOLID PERFORMANCE: In addition to the growth in trading fees, the company's asset-based revenue also grew 8 percent to $407 million.