TD Ameritrade beat on earnings and revs. Reiterates that 0% commissions will have 15%-16% negative hit on revenue. $AMTD up after hours. Conference call tomorrow. And I'm talking to CEO Tim Hockey tomorrow as well. Interesting that $AMTD $SCHW $ETFC all impressed with earnings.
TD Ameritrade CEO Tim Hockey says (in a prepared statement accompanying Q4 results): "We are working diligently to take advantage of new revenue opportunities and control expenses to replace the lost economics" from switching to zero-commission trading. No details, though $AMTD