04:46 PM EDT, 07/16/2024 (MT Newswires) -- Interactive Brokers ( IBKR ) late Tuesday reported second-quarter earnings that exceeded analysts' estimates as the brokerage's revenue rose year over year on the back of increased customer trading volume.

Adjusted per-share earnings rose to $1.76 during the three months ended June 30 from $1.32 a year earlier, topping the $1.74 consensus on Capital IQ. Net revenue increased to $1.23 billion from $1 billion. Five analysts polled by Capital IQ expected $1.27 billion.

Commission revenue gained 26% to $406 million, led by double-digit volume gains in options, stocks, and futures. The number of customer accounts increased 28% year over year to 2.92 million, Interactive Brokers ( IBKR ) said.

Net interest income advanced 14% to $792 million amid higher interest rates and customer credit balances.

As previously reported, the brokerage recognized a $48 million loss in the second quarter on positions taken over as customer accommodation following a technical glitch at the New York Stock Exchange on June 3. The temporary issue caused Berkshire Hathaway's (BRK.A) class A shares to appear to be down nearly 100% before the NYSE halted trading in the shares. The issue was resolved the same day.

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