WASHINGTON (dpa-AFX) - LPL Financial Holdings Inc. (LPLA) on Tuesday reported a third-quarter profit, compared to a loss last year.
Net income for the quarter was $356.6 million or $4.52 per share, compared to a net loss of $29.5 million or $0.37 per share last year.
Adjusted net income increased to $471.3 million or $5.97 per share from $418.2 million or $5.20 per share a year earlier.
Total revenue grew 17% to $5.34 billion, supported by higher advisory revenue, commissions and asset-based revenue.
Total client assets increased 11% year-over-year to $2.6 trillion, while organic net new assets reached $29 billion, representing annualized growth of 5%.
Looking ahead, LPL Financial narrowed its full-year 2026 core general and administrative expenses outlook to $2.14 billion to $2.16 billion, including expenses related to Commonwealth Financial Network.
The company's board also declared a quarterly dividend of $0.30 per share, payable November 30 to shareholders of record November 12.
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