LPL Investment Holdings Earnings Cheat Sheet: Profit Up
LPL Investment Holdings (NASDAQ:LPLA) reported its results for the second quarter. LPL Investment Holdings Inc. provides brokerage & investment advisory services through business relationships with financial advisors, financial advisors employed by financial institutions, registered investment advisors & financi institutions.
LPL Investment Holdings Earnings Cheat Sheet for the Second Quarter
Results: Net income for the investment brokerage rose to $45.5 million (40 cents per share) vs. $8 million (8 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.
Revenue: Revenue was $894 million last quarter.
Quoting Management: “In the second quarter, the business activities and success of our independent advisors and institutional customers generated continued momentum in our financial and operational performance,” said Mark Casady, LPL Financial chairman and CEO. “While market conditions fluctuated, our advisors remained highly engaged with their clients in support of their comprehensive planning needs. Thus far, market volatility has not changed the outlook of our advisors, and we continue to partner with them to help their clients remain focused on their long-term financial goals.”
The company has now topped analyst estimates for the last three quarters. It beat the mark by 5 cents in the first quarter and by 4 cents in the fourth quarter of the last fiscal year.
Competitors to Watch: Raymond James Financial, Inc. (NYSE:RJF), Morgan Stanley (NYSE:MS), Ameriprise Financial, Inc. (NYSE:AMP), The Charles Schwab Corp. (NYSE:SCHW), Morningstar, Inc. (NASDAQ:MORN), Financial Engines Inc (NASDAQ:FNGN), FXCM Inc (NYSE:FXCM), The Bank of New York Mellon Corp. (NYSE:BK), Bank of America (NYSE:BAC), Citigroup (NYSE:C), JP Morgan (NYSE:JPM), TD Ameritrade Holding Corp. (NASDAQ:AMTD), and optionsXpress Hldgs., Inc. (NASDAQ:OXPS).
(Source: Xignite Financials)