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E*Trade Quarterly Profit Rises 19%, Lowers Outlook

Online bank and brokerage E*Trade Financialsaid on Wednesday its first-quarter profit rose 19% on growth in client assets.

The company reported net income of $169.4 million, or 39 cents a share, compared to $142.5 million, or 33 cents a share, a year earlier.

Analysts had predicted earnings of 38 cents a share, according to Thomson Financial.