TD Ameritrade Holding Corp. said it expects revenue to fall about 15% next year after the electronic broker nixed trading commissions, an estimate that isn’t as severe as analysts predicted. For the fiscal year ending September 2020, TD Ameritrade said it expects to report between $4.9 billion and $5.3 billion in revenue. TD Ameritrade posted $1.05 in adjusted earnings per share, ahead of analysts’ estimate of $1. Shares of TD Ameritrade rose 1.8% in afternoon trading. TD Ameritrade said some of its efforts to make up for the lost revenue will revolve around its trading business.

Source: Wall Street Journal October 22, 2019 19:51 UTC