Ameritrade 1Q net income grows 6 percent

OMAHA, Neb. — Online brokerage TD Ameritrade posted a 6 percent increase in its first-quarter profit because increased revenue from the asset-based fees it charges offset slightly slower trading activity.

The Omaha-based company reported net income of $145 million net income, or 25 cents per share, in the three months ended Dec. 31. That's up from last year's $136 million, or 23 cents per share.

Ameritrade says revenue grew 5 percent in the quarter to $656 million as it attracted more investor assets. That's up from $625 million last year.

The average trades per day Ameritrade handled declined 2 percent to 372,000.

Analysts surveyed by Thomson Reuters expected quarterly earnings per share of 25 cents on revenue of $647.8 million.