EGRP reports NO LOSS and RECORD ACCOUNT GROWTH!!!:
mktnews.nasdaq.com
MENLO PARK, Calif., April 12 /PRNewswire/ -- E*TRADE Group, Inc. (Nasdaq: EGRP) today announced that it continued to drive operational excellence in the second quarter of fiscal 2000, achieving break-even results from its ongoing operations and establishing new milestones in revenue, accounts, assets and transactions. The results demonstrate the strength of the Company's all-electronic business model and set the stage for continuing growth as one of the world's leading blue chip e-commerce companies and brands.
For the second quarter ended March 31, 2000, net revenue grew to $407 million, up 152 percent from $162 million for the same period a year ago, and up 52 percent from $268 million in the first quarter of fiscal 2000. ----E*TRADE had a net profit from ongoing operations of $1.3 million, or $0.00 per share----, as compared to a net loss of $13.3 million, or $0.05 per share a year earlier, and a net loss of $34.9 million or $0.12 per share in the previous quarter on a comparable basis. The total net loss as reported for the second quarter of fiscal 2000 was $23.2 million, or $0.08 per share.
In the second quarter 2000, E*TRADE's scalable technology infrastructure and powerful e-commerce brand franchise helped the Company attract 603,000 net new accounts, bringing its total active accounts to 2.6 million, compared to 967,000 a year ago. At the same time, E*TRADE continued to leverage its strong brand to stay top-of-mind and maintain one of the lowest acquisition costs per net new account in the industry of $256, down 13 percent from the previous quarter. Average transactions per day increased to 229,000, up 226 percent from 70,000 a year ago, and up 73 percent from 133,000 in the first fiscal quarter of 2000. Reflecting E*TRADE's growing position as a blue chip e-commerce company, total page views in the quarter were 1.3 billion, up 182 percent from 472 million in the same quarter a year ago and up 49 percent from 891 million in the first quarter of fiscal 2000. |
