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E-Trade 1Q profit surges 70%, helped by gain in new brokerage accounts

Published: 21:22 19 Apr 2018 BST

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The shares slid in extended trading

E-Trade Financial Corp. (NASDAQ:ETFC) said first-quarter profit surged 70%, helped by an increase in new brokerage accounts.

Net income climbed to US$247mln, or US$0.88 a share, from US$145mln, or US$0.48 a share, a year a year earlier, the company said in a statement today. That beat estimates of US$0.79 a share from analysts polled at EarningsWhispers.com. Revenue advanced 28% to US$708mln.

The stock fell 2.4% to US$57.40 in extended trading after the market close.

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