Interactive Brokers Group, Inc. (NASDAQ:IBKR), an automated global electronic broker, has announced results
Interactive Brokers Group, Inc. (NASDAQ:IBKR), an automated global electronic broker, has announced results for the quarter ended June 30, 2024.
Reported diluted earnings per share were $1.65 for the current quarter and $1.76 as adjusted. For the year-ago quarter, reported diluted earnings per share were $1.20 and $1.32 as adjusted.
Reported net revenues were $1,230 million for the current quarter and $1,290 million as adjusted. For the year-ago quarter, reported net revenues were $1,000 million and $1,064 million as adjusted.
Reported income before income taxes was $880 million for the current quarter and $940 million as adjusted. For the year-ago quarter, reported income before income taxes was $652 million and $716 million as adjusted.
Commission revenue increased 26% to $406 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 26% and 10%, respectively.
Net interest income increased 14% to $792 million on higher benchmark interest rates, customer margin loans and customer credit balances. Other fees and services increased $21 million, or 45%, to $68 million, driven primarily by increases of $14 million in risk exposure fees and $3 million each in payments for order flow from exchange-mandated programs and FDIC sweep program fees.
Pretax profit margin for the current quarter was 72% as reported and 73% as adjusted. For the year-ago quarter, reported pretax margin was 65% and 67% as adjusted.
The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.25 per share. This dividend is payable on September 13, 2024, to shareholders of record as of August 30, 2024.
Customer accounts increased 28% from the year-ago period to 2.92 million. Total DARTs increased 28% to 2.39 million.
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