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July 9, 1997updated 05 Sep 2016 12:13pm


By CBR Staff Writer

E*Trade Group Inc, Palo Alto, California-based electronic financial services company, reported third-quarter net income of $3.1m, or $0.09 per share, on revenue which soared 138% to $37m, compared to a loss of $2.4m a year ago. For the nine months, net income was $8.4m, or $0.24 per share, on revenue up 174% at $94.3m, compared to a loss of $1.3m last year. Results for the current third quarter included a $4.3m charge which the company says stems from a clerical oversight affecting its registration procedure in Ohio As a condition of the registration renewal, the company contacted customers in Ohio and offered to rescind transactions made during the period when the registration had lapsed.

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