From today's release-->"net profit from ongoing operations is $0.5 million." This is the second consecutive quarter in which E*Trade has been profitable.
etrade.com
E*TRADE SURPASSES $1 BILLION IN REVENUES FOR FIRST NINE MONTHS OF FISCAL 2000, ACHIEVES BREAK-EVEN RESULTS FROM ONGOING OPERATIONS
Reports Net Income of $5.7 million, or $0.02 a share, compared to loss of $0.09 a share a year ago
Third Quarter 2000 Highlights:
--Grows revenues to $330 million, up 77 percent from a year ago Customer assets rise 121 percent from a year ago to $60.7 billion
--Average daily inflows rise 74 percent from a year ago to $121 million
--Expands gross margins to 62 percent from 56 percent a year ago
--Reaches nearly 3 million accounts, adding 330,000 net new accounts
From our CEO C. Cotsakos:
"Today, E*TRADE is extremely well positioned relative to both the online competition and the traditional legacy players, because we have already made the strategic investments to drive our growth and profitability. We have built a blue chip e-commerce brand that is known around the world; we have established a proprietary technology infrastructure that few can replicate; and we have diversified our revenue stream through banking, fee-generating asset gathering initiatives, global expansion and a rapidly growing institutional business. Bottom line, our results clearly demonstrate that E*TRADE has the revenue-per-customer, consistent growth and gross margins to be a blue-chip e-commerce company and the leading online financial services provider for the 21st century."
<Go to the link for the rest>
--Phil Tran |
