LPL Financial: 3Q Earnings Snapshot
BOSTON (AP) - LPL Financial Holdings Inc. (LPLA) on Thursday reported third-quarter net income of $106.9 million.
The company, based in Boston, said it had earnings of $1.19 per share.
Excluding amortization of intangible assets, earnings per share were $1.32. On that basis, the company beat the average analyst estimate of $1.26 per share, according to a survey of four analysts by Zacks Investment Research.
The financial holding company posted revenue of $1.33 billion in the period. Its revenue net of interest expense was $1.33 billion, which beat Street forecasts. Three analysts surveyed by Zacks expected $1.3 billion.
LPL Financial shares have fallen 5 percent since the beginning of the year. The stock has increased 2.5 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LPLA at https://www.zacks.com/ap/LPLA
This story has been corrected to show that the company's adjusted earnings per share beat the average analyst estimate, according to a survey by Zacks.
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