TD Ameritrade on Wednesday reported fiscal first-quarter profit of $211 million.
The bank, based in Omaha, Nebraska, said it had earnings of 39 cents per share.
The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The online brokerage posted revenue of $819 million in the period, which also missed Street forecasts. Analysts expected $831 million, according to Zacks.
TD Ameritrade shares have fallen slightly more than 7 percent since the beginning of the year. The stock has climbed 2 percent in the last 12 months.