E-Trade Financial Corp. (ETFCP) Issues Warning
E-Trade Financial Corp. on Wednesday reported first-quarter results that beat Wall Street projections, but the discount brokerage warned recent market turbulence will dent earnings for the year.
Quarterly profit for the first three months of 2007 rose to $169.4 million, or 39 cents per share, from $142.5 million, or 33 cents per share a year earlier. Revenue increased to a record $645 million from $589.3 million a year earlier.
The results topped analyst projections for a profit of 38 cents per share on revenue of $672.6 million, according to Thomson Financial.
Quarterly profit for the first three months of 2007 rose to $169.4 million, or 39 cents per share, from $142.5 million, or 33 cents per share a year earlier. Revenue increased to a record $645 million from $589.3 million a year earlier.
The results topped analyst projections for a profit of 38 cents per share on revenue of $672.6 million, according to Thomson Financial.
Labels: E-Trade Financial Corp., ETFCP
posted by Stock Administrator @ 6:53 PM
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