E*Trade Financial Corp. Announces Fall In Q1 Earnings

E*Trade Financial Corp. (ETFC) reported a profit for first quarter that dropped from last year.

The company's earnings came in at $161 million, or $0.72 per share. This compares with $270 million, or $1.09 per share, in last year's first quarter.

Analysts had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.4% to $707 million from $755 million last year.

E*Trade Financial Corp. earnings at a glance:

-Earnings (Q1): $161 Mln. vs. $270 Mln. last year.
-EPS (Q1): $0.72 vs. $1.09 last year.
-Analysts Estimate: $0.91
-Revenue (Q1): $707 Mln vs. $755 Mln last year.

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