LPL Financial Holdings Inc (LPLA) has reported 4.37 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $48.19 million, or $0.52 a share in the quarter, compared with $50.39 million, or $0.56 a share for the same period last year.
Revenue during the quarter went up marginally by 3 percent to $1,035.43 million from $1,005.30 million in the previous year period. Total expenses were 88.24 percent of quarterly revenues, down from 89.21 percent for the same period last year. This has led to an improvement of 97 basis points in operating margin to 11.76 percent.
Operating income for the quarter was $121.76 million, compared with $108.49 million in the previous year period.
“We had a solid start to the year,” said Dan Arnold, president and Chief executive officer. “We have heard positive sentiment from our advisors, who are energized by the improved macro environment, LPL’s enhanced capabilities, and their opportunities to win in the marketplace.”
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