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Personal Finance
Waterhouse hits target
August 16, 2000: 7:45 a.m. ET

Canadian-owned broker sees strong revenue gains across different sectors
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NEW YORK (CNNfn) - Brokerage house T.D. Waterhouse Group Inc. met third quarter earnings forecasts as profits grew by almost a third.

The Canadian-owned broker, which is focusing on online investing, earned $34.5 million, or 9 cents a diluted share, in line with the forecasts of analysts surveyed by earnings tracker First Call. The company earned $26.4 million, or 8 cent a share, a year earlier.

Revenue rose 42 percent to $345.6 million from $243 million a year earlier. Revenue from commissions and fees gained 31 percent to $202.9 million, while mutual fund and related revenue climbed 44 percent to $37.1 million. Net interest revenue jumped 72 percent to $88.8 million.

T.D. Waterhouse is majority owned by Toronto-based TD Bank Financial Group (TD: Research, Estimates). Shares of T.D. Waterhouse (TWE: Research, Estimates) lost 5/16 to 17-13/16 in trading Tuesday. Back to top

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