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Jan. 23, 2020, 4:18 p.m. EST

E-Trade stock falls after mixed Q4 results for discount broker

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    E*TRADE Financial Corp. (ETFC)

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By Claudia Assis

ETFC

E-Trade Financial Corp. /zigman2/quotes/205731930/composite ETFC -5.32% late Thursday reported mixed fourth-quarter earnings, missing per-share expectations but beating revenue forecast, and the stock fell in the extended session. E-Trade said it earned $172 million, or 76 cents a share, in the quarter, compared with $270 million, or $1.06 a share, in the year-ago quarter. Revenue fell to $679 million, from $735 million. Analysts polled by FactSet had expected the discount brokerage to report a profit of 81 cents a share on sales of $671 million. The company also declared a dividend of 14 cents, payable March 2 to shareholders of record on Feb. 25. E-trade "generated our best year ever for customer trading, growth in customer cash, and stock plan implementations," the company said in a statement. E-Trade and other brokerages late last year dropped commission fees on some trades.

/zigman2/quotes/205731930/composite
US : U.S.: Nasdaq
$ 50.38
-2.83 -5.32%
Volume: 12.16M
Feb. 24, 2020 4:00p
P/E Ratio
13.16
Dividend Yield
1.11%
Market Cap
$11.83 billion
Rev. per Employee
$761,500
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