ETrade revenue up as volume recovers after Brexit

E*Trade Financial Corp. said its second-quarter revenue rose 10% as trading picked up and its allowance for loan losses shrunk, though the pace of the online broker's new account openings slowed. The results beat Wall Street expectations. "The quarter closed in a frenzy of market activity that impelled a single-day record of net buying as customers seized opportunities following sharp market declines," Chief Executive Paul Idzik said, referring to the steep market selloff in the wake of the U.K.'s decision to exit the European Union on June 23.