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E*Trade swings to third-quarter loss
October 18, 2012 / 8:20 PM / in 5 years

E*Trade swings to third-quarter loss

Oct 18 (Reuters) - E*Trade Financial Corp said on Thursday it swung to a loss in the third-quarter, due to lower trading levels and a number of one-time charges, including $13 million in severance paid to the online brokerage’s chief executive, who left during the period.

E*Trade said it lost $28.6 million, or 10 cents a share in the period ended Sept. 30. A year earlier, it earned $70.7 million, or 24 cents a diluted share.

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