E*TRADE Financial Corporation Announces Third Quarter 2010 Results
NEW YORK--(BUSINESS WIRE)-- E*TRADE Financial Corporation (NASDAQ: ETFC): Third Quarter Results * Pre-tax income of $36 million, down from $52 million in prior quarter and improved from $1.2 billion pre-tax loss in third quarter 2009 (or $183 million pre-tax loss excluding the $968 million non-cash charge on debt exchange)(1) * Net income of $8 million, or $0.03 per share, down from $0.12 per share in prior quarter and improved from a $6.74 loss per share in third quarter 2009 (or $0.65 loss per share excluding the $6.09 loss per share non-cash charge on debt exchange)(1) * Total net revenue of $489 million, down from $534 million in prior quarter and $575 million in third quarter 2009 * Provision for loan losses of $152 million, down from $166 million in prior quarter and $347 million in third quarter 2009 * Special mention delinquencies (30-89 days) down by eight percent from prior quarter; at-risk delinquencies (30-179 days) down by 11 percent from prior quarter ...