E*Trade Financial Corporation is an American financial services company, based in New York.
The company is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘ETFC’.
It was incorporated in California in 1982 and reincorporated in Delaware in July 1996.
E*Trade primarily offers online discount stock brokerage services for self-directed investors under the brand “E*TRADE Financial”, allowing its clients to buy and sell securities such as stocks, bonds, options, mutual funds, and exchange-traded funds through online trading platforms or over the phone. Online trading refers to buying and selling financial securities on the Internet.
The company operates directly and through its subsidiaries, namely:
E*TRADE Bank – a federally chartered savings bank that offers investor-focused banking products.
E*TRADE Securities LLC – a wholly-owned subsidiary of E*TRADE Bank that operates as a broker-dealer.
E*TRADE Clearing LLC – the clearing firm for E*TRADE’s brokerage subsidiaries. Its main purpose is to settle securities transactions for E*TRADE Securities LLC customers.
Overview
- CEO: Paul T. Idzik
- CFO: Matthew J. Audette
- Type: Public
- Industry: Financial Services
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: ETFC
- S&P 500 Component
- Revenue: $1.723 billion USD (2013)
- Net income: $86.012 million USD (2013)
- Diluted earnings per share: $0.29 USD (2013)
- Founded: 1982
- Employees: 3,000 (2013)
- Corporate headquarters: 1271 Avenue of the Americas, 14 th Floor, New York, New York 10020, USA
- Corporate contact number: (646) 521-4300
- Investor relations contact number: 1-646-521-4340
- Website: https://us.etrade.com/
| Operating data (in $ thousands) | 2013 | 2012 |
| Net revenue | $1,723,697 | $1,899,496 |
| Total operating expense | $1,275,265 | $1,162,085 |
| Net revenue | $36,144 | $35,310 |
| Net income (loss) | $86,012 | $(112,583) |
| Comprehensive income (loss) | $(57,503) | $(35,882) |
| Balance sheet data (in $ thousands) | ||
| Total assets | $46,279,856 | $47,386,739 |
| Total liabilities | $41,423,931 | $42,482,269 |
| Total shareholders’ equity | $4,855,925 | $4,904,470 |
| Cash flow data (in $ thousands) | ||
| Net cash provided by (used in) operating activities | $1,117,082 | $(158,759) |
| Net cash provided by investing activities | $286,400 | $664,420 |
| Net cash provided by (used in) financing activities | $(2,326,964) | $155,994 |
| Cash and cash equivalents at end of period | $1,838,012 | $2,761,494 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $0.30 | $(0.39) |
| Diluted earnings (loss) per common share | $0.29 | $(0.39) |
Source: “E*Trade Financial Corporation 2013 Annual Report”