Author: Rozalina Destanova
123jump.com
Last Update: 3:37 PM EDT October 16 2007
The online brokerage firm reported revenue increase of 0.3% to $541.8 million, exceeding analysts’ expectations of $529 million. The company has turned its attention toward attracting mass affluent investors, those with $100,000 to $1 million of investable assets. While asset-based revenue inched higher by 5% to $333 million, total commissions and transaction fees dropped 7% to $198 million. The company expects to make between 97 cents and $1.05 a share for the year.
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