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Brokerage LPL Financial's profit jumps 56 pct
February 9, 2017 / 9:18 PM / 10 months ago

Brokerage LPL Financial's profit jumps 56 pct

Feb 9 (Reuters) - LPL Financial Holdings Inc, the largest U.S. independent brokerage, reported a 55.6 percent jump in quarterly earnings on higher revenue in its asset-based business and higher transaction and fees.

The company’s net income rose to $41.74 million, or 46 cents per share, in the fourth quarter ended Dec. 31, from $26.81 million, or 28 cents per share, a year earlier.

Total net revenue fell 1.3 percent to about $1 billion. (Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D‘Souza)

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