E*Trade (ETFC) posted record fourth-quarter Net Income of $177 million, or $0.40 per share; Estimate was $0.39; it posted a record fourth-quarter Total Net Revenue of $629 million; Estimate was just under $627 million. Operating Margins were 43 percent; and it posted a record quarterly growth in Total Customer Cash and Deposits of $2.0 billion.
Its record full-year earnings were $1.44 EPS, or $1.49 excluding previously announced acquisition-related integration expenses and posted record full-year net Revenue of $2.4 billion. It also had a record Total Retail Client Assets of $195 billion Unfortunately the company hasn’t offered any guidance, but for a trading firm to offer guidance at the beginning of a quarter is difficult since so much of the trading and decisions are out of their control and so much is depending on the stock market.
Wall Street isn’t happy enough with these numbers either. Shares closed down 1.25% at $24.71 in regular trading, and shares are down 1.5% to $24.35. Its 52-week trading range is $18.81 to $27.76.
Jon C. Ogg
January 18, 2007
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