E*Trade Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Charge-Offs for the Fourth Quarter Ended December 31, 2016
For the year, the company reported net interest income of $1,148 million against $1,021 million a year ago. Total net revenue was $1,941 million against $1,370 million a year ago. Income before income tax expense was $838 million against $91 million a year ago. Net income was $552 million or $1.98 per diluted share against $268 million or $0.91 per diluted share a year ago. Adjusted net revenue was $1,941 million against $1,740 million a year ago. Adjusted income before income tax expense was $689 million against $533 million a year ago.
For the quarter, the company reported total charge-offs of $289 million against $337 million a year ago.