thinkorswim Group jumps 23% in pre-market after Q2 beats Street views

Shares of thinkorswim Group Inc. (Nasdaq:SWIM) are up 23% in pre-market trading today after the New York-based company reported record revenues that beat Wall Street views after Thursday’s close. For the quarter ended June 30, the company reported revenues of $97 million, up from $79.7 million from a year ago. Net income was $18.6 million, or $0.27 per share, up from $6 million, or $0.09 a share, for the same period a year earlier. Analysts had been expecting earnings of $0.17 per share on revenues of $88.05 million.

“Management made intra-quarter marketing, scheduling and customer acquisition adjustments to achieve a $490 cost per funded account, which is expected to realize $2,300 of annualized revenue per account. We believe that the education levels and derivative-based trading activity of the customers acquired through these strategies provide the strongest growth model in the online brokerage industry,” said Lee K. Barba, chairman and CEO, in a statement.

Ahead of today’s opening, shares of the online brokerage and investor education company are at $9.85, up $1.82 from Thursday’s close. The stock has ranged from $6.41 to $18.23 during the past 52 weeks.

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