TD Ameritrade said fourth-quarter profits rose 69% from a year ago, sending shares of the online brokerage higher.
The company, formed last year when Ameritrade bought TD Waterhouse USA from Toronto-Dominion Bank, said first-quarter net income rose to $146 million, or 24 cents a diluted share, from $86 million, or 21 cents a share, in the year-ago period.
Per-share results are based on 603 million average shares outstanding, up sharply from 406.6 million a year ago.
"We feel good about where we are heading for the rest of the year and into next year," Joe Moglia, TD Ameritrade's chief executive officer, told CNBC.
Revenue surged 92% to $535 million. Commissions and transaction fees rose 48%, and money market and mutual fund fees increased six-fold.
Analysts polled by Thomson Financial were expecting net earnings per share of 22
cents on revenue of $517.44 million during the quarter.