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LPL Financial profit falls 4.4 pct as costs rise
July 30, 2014 / 10:20 AM / 3 years ago

LPL Financial profit falls 4.4 pct as costs rise

July 30 (Reuters) - LPL Financial Holdings Inc, one of the five biggest U.S. broker-dealers, reported a 4.4 percent drop in quarterly profit, as restructuring and other expenses increased.

Net income fell to $43.1 million, or 42 cents per share, from $45.1 million, or 42 cents per share, a year earlier.

The company reported adjusted earnings per share of 61 cents for the second quarter ended June 30.

Net revenue grew 7.2 percent to $1.09 billion. (Reporting by Amrutha Gayathri in Bangalore; Editing by Joyjeet Das)

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