TD Ameritrade Profit Falls 2.6% on Higher Expenses

Discount broker TD Ameritrade Holding Corp reported a 2.6 percent fall in quarterly profit, hurt by higher expenses.

The company's net income fell to $189 million, or 35 cents per share, for the second quarter ended March 31, from $194 million, or 35 cents per share, a year earlier.

Net revenue fell about 1 percent to $803 million.

Net new assets rose to $16.3 billion, up from $12.2 billion a year earlier. (Reporting by Neha Dimri in Bengaluru; Editing by Simon Jennings)