TD Ameritrade (AMTD) reported second quarter earnings Tuesday morning that came in solidly ahead of analysts expectations. TD Ameritrade reported a 19.5 percent rise in quarterly earnings. The company earned 33 cents per share, which was two cents higher than analysts estimates of 31 cents per share. Revenue topped analysts estimates by an even larger amount. Analysts expected TD Ameritrade to report $705.8 million in revenues, but the company ended up reporting top line revenues of $725 million. The $725 million marks the single highest revenue number TD Ameritrade has ever reported.

The 33 cents earned per share was the company’s third-highest quarterly earnings ever, and their highest earning quarter since June of 2008. Daily Average Revenue Trades (DARTs) came in at 399,000 for the quarter. That was 12 percent higher than the same quarter a year ago. It also made this quarter the firm’s most active in two years. Interestingly, TD Ameritrade reported that 10 percent of daily trades last quarter were generated on mobile devices.

Net new client assets were $11 billion in the last quarter. Total client assets are now approximately $524 billion. TD Ameritrade announced that it will hire 50 to 100 new salespeople in its branches over the next quarter. The company is trying to capitalize on its fastest-growing business, selling fee-based products to investors. TD Ameritrade officials also said they would spend more to upgrade technology that has not kept up with accelerated volume. Specifically, clients should be able to move money in and out of their accounts faster.

Shares of TD Ameritrade rose more than 4.4% on Tuesday following release of this earnings surprise. AMTD shares hit a new 52-week high today, and they are up more than 60 percent in the past year.

For more on TD Ameritrade’s second quarter earnings click here for the full press release from the company.

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