E-Trade Reports Profit:

E-Trade Group Inc., the No. 2 Internet broker, posted a small first-quarter operating profit of $868,000, or nil per share, despite reduced stock trading. In the year-ago period, the company had an operating loss of $672,000, or nil per share. E-Trade benefited from traditional banking, which helped insulate it from a downturn in the stock market, as its revenue from trading plunged 48%. Total revenue fell 21% to $330 million. Analysts had expected earnings of 1 cent to nil per share for the quarter, with a consensus of break-even, according to First Call/ Thomson Financial. E-Trade shares closed up $1.32 at $7.55 on the NYSE, before the results were announced.