July 30 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)