E*Trade Posts Second Quarter Profit
Written by Robert White on July 24, 2010 – 6:00 am 
E*Trade Financial the online brokerage company has returned to profitability after posting second quarter profits on Wednesday for the first time in three years.
The company has not faired well after its business was negatively impacted by bad loans made by its banking division, which reported its seventh consecutive drop in loan loss provisions.
Net charge-offs, or loans that E*Trade doesn’t think it can collect, were $US225 million ($252m), falling 42 per cent from a year ago.
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Tags: Profit, Quarter Profit, Second Quarter, Second Quarter Profit
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