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E*TRADE Financial Corporation (NASDAQ:ETFC) was founded in 1982 and is based in New York, New York. E*TRADE, together with its subsidiaries, provides online brokerage and related products and services primarily to individual retail investors in the United States. In addition, E*TRADE provides software and services for managing equity compensation plans for corporate customers.

E*TRADE Financial Corporation yesterday announced results for its third quarter ended Sept. 30, 2011, reporting net income of $71 million, or $0.24 per share, compared with net income of $47 million, or $0.16 per share, in the prior quarter and net income of $8 million, or $0.03 per share, in the third quarter of 2010. E*TRADE reported total net revenue of $507 million for the third quarter, compared with $518 million in the prior quarter and $489 million in the year-ago period. During the quarter, E*TRADE recorded an income tax benefit of approximately $62 million related to the taxable liquidation of a European subsidiary. The subsidiary was liquidated in connection with E*TRADE's international restructuring activities. This liquidation resulted in the taxable recognition of certain losses, including historical acquisition premiums that E*TRADE incurred internationally. This tax benefit resulted in a corresponding increase to the company's deferred tax asset which currently stands at $1.5 billion.

For more information about E*TRADE, please visit www.etrade.com

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