For the third quarter ending Sept. 30, LPL Financial had net income of $58 million, or $0.63 per share, vs. $52 million, or $0.58 per share, a year ago — meeting equity analysts’ estimates.
Revenue, though, fell short of analysts’ estimates by about $20 million, according to Seeking Alpha, at $1.06 billion, which represents a 4% increase from last year.
In addition, LPL says its total advisor count decreased to 14,253, down 124 advisors from 2016, and fell by 3 from last quarter.
“We remained focused on our strategic priorities of growing our core business and executing with excellence in the third quarter,” said President & CEO Dan Arnold, in a statement.