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Interactive Brokers Reports Mixed Q3 Results: EPS Miss, Revenue In-Line
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Interactive Brokers Reports Mixed Q3 Results: EPS Miss, Revenue In-Line
Oct 17, 2024 1:02 PM

Interactive Brokers Group, Inc. ( IBKR ) reported its third-quarter financial results after Tuesday's closing bell. Here's a look at the details from the report. 

The Details: Interactive Brokers ( IBKR ) reported quarterly earnings of $1.75 per share, which missed the analyst consensus estimate of $1.82. Quarterly revenue of $1.33 billion met the analyst consensus estimate and is an increase over revenue of $1.15 billion from the same period last year.

Commission revenue increased 31% to $435 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 22% and 13%, respectively.

Net interest income increased 9% to $802 million on higher customer margin loans and customer credit balances.

Other fees and services increased $20 million, or 38%, to $72 million, driven by increases of $13 million in risk exposure fees, $5 million in payments for order flow from exchange-mandated programs, and $2 million in FDIC sweep program fees.

Execution, clearing and distribution fees expenses increased 18% to $116 million, driven by a higher SEC fee rate and higher customer trading volumes.

General and administrative expenses increased $30 million, or 67%, to $75 million, driven primarily by a one-time charge of $12 million related to the consolidation of its European subsidiaries and a $9 million increase related to legal and regulatory matters.

Pretax profit margin for the current quarter was 72%. compared to pretax margin of 73% from the year-ago quarter.

Total equity of $16.1 billion.

Read Also: Oil Prices Drop After Netanyahu Says Israel Will Attack Military, Not Oil Or Nuclear Targets In Iran

IBKR Price Action: According to Benzinga Pro, Interactive Brokers ( IBKR ) shares are down 3.27% after-hours at $147.98 at the time of publication Tuesday.

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