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Author: AlejandroOrtiz Three stars, 500 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 10679  
Subject: E*TRADE Financial Posts Hefty Loss In Q3 Date: 10/28/2009 12:00 AM
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E*TRADE Financial Posts Hefty Loss In Q3
10/27/2009 5:55 PM ET

Monday, online brokerage firm E*TRADE Financial Corp. (ETFC: News ) reported a third quarter loss that widened from a year ago, on charge-offs and higher loan loss provisions, as well as a decline in quarterly revenues. Adjusted earnings for the quarter, however, beat analysts' estimate by a penny.

The New York-based company reported a net loss for the third quarter of $832 million or $0.66 per share, compared to a loss of $50 million or $0.09 per share in the year-ago quarter.

The third quarter results included a $968 million pre-tax non-cash charge for corporate debt extinguishment in relation to the company's successful $1.74 billion debt exchange, which had an after-tax impact of approximately $773 million, or $0.61 per share.

Excluding the impact of the item, the company reported a net loss of $59 million, or $0.05 per share for the third quarter of 2009...

Full Article:
http://www.rttnews.com/Content/QuickFacts.aspx?Id=1107224


Alejandro
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