E*TRADE (ETFC) reported second quarter earnings after the bell on Thursday. Excluding a one-time tax benefit, E*TRADE earned 25 cents per share in the second quarter. The average estimate from analysts was for 27 cents per share. E*TRADE reported revenue of $445 million, which was a slight increase from last year’s $438 million. Analysts expected E*TRADE to bring in $447 million on the top line.

Daily Average Revenue Trades (DARTs) dropped four percent from a year ago to a level of 149,000. That was 12 percent lower than DARTs from the first quarter. Commissions, fees, and service charges edged up from $164 million last year to $167 million this year. The average commission per trade was $10.96 in the quarter, which was up from $10.72 in the second quarter of 2014. Total operating expenses rose by $25 million to $309 million.

The company added 25,000 net new accounts during the quarter, down from 33,000 in the same period a year ago. Total customer assets jumped to $302 billion, a healthy increase from $281 billion a year ago. E*TRADE now has a total of 3.2 million brokerage accounts.

E*TRADE CEO Paul Idzik said, “Despite slower trading volumes across the industry, our business continued to grow, with customer margin receivables just below record highs and total customer assets surpassing $300 billion.”

Shares of ETFC initially traded lower in after hours trading following this report. Overall though, the stock is up more than 40 percent in the past 52 weeks.

Click here for the full earnings release from E*TRADE.