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April 23, 2020, 4:34 p.m. EDT

E-Trade shares fall after earnings miss

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By Max A. Cherney

E-Trade Financial Corp. /zigman2/quotes/205731930/composite ETFC -0.08% shares fell less than 1% in the extended session Thursday after the financial company reported below-consensus earnings. The company reported first-quarter net income available to common shareholders of $161 million, or 72 cents a share, compared with $270 million, or $1.09 a share, in the year-ago period. Revenue fell to $707 million from $755 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 90 cents a share on revenue of $719.3 million. The company said it would pay out a dividend of 14 cents a share May 19 for shareholders of record on May 13. For the second quarter, analysts model earnings of 67 cents a share and sales of $623.7 million. E-Trade stock has fallen 24.3% in the past year, as the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.77% fell 4.6%.

/zigman2/quotes/205731930/composite
US : U.S.: Nasdaq
$ 50.77
-0.04 -0.08%
Volume: 1.36M
July 31, 2020 4:00p
P/E Ratio
14.75
Dividend Yield
1.10%
Market Cap
$11.22 billion
Rev. per Employee
$761,500
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/zigman2/quotes/210599714/realtime
US : S&P US
3,271.12
+24.90 +0.77%
Volume: 3.07B
July 31, 2020 5:07p
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