Interactive Brokers Group Inc. (NASDAQ:IBKR) reported first-quarter results after Tuesday's closing bell, missing the Street’s revenue estimate.
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Q1 Details
Interactive Brokers Group reported quarterly earnings of 60 cents per share which met the analyst consensus estimate, according to Benzinga Pro data.
Quarterly revenue came in at $1.67 billion, which missed the Street estimate of $1.71 billion by 2.25%.
Interactive Brokers reported following the first quarter highlights, compared to the year-ago quarter:
- Customer accounts increased 31% to 4.75 million.
- Customer equity increased 38% to $789.4 billion.
- Total DARTs increased 24% to 4.37 million.
- Customer credits increased 35% to $168.8 billion.
- Customer margin loans increased 35% to $86 billion.
- Commission revenue increased 19% to $613 million on higher customer trading volumes. Customer trading volume in stocks, futures and options increased 25%, 20% and 16%, respectively.
- Net interest income increased 17% to $904 million, primarily on higher average customer margin loans and customer credit balances.
- Other fees and services increased 10% to $86 million.
- Execution, clearing and distribution fees decreased 12% to $106 million.
- Pretax profit margin for the current quarter was 77% both as reported and as adjusted. For the year-ago quarter, pretax margin was 74% as reported and 73% as adjusted.
IBKR Stock Price: According to data from Benzinga Pro, Interactive Brokers stock was down 1.49% to $78.43 in Tuesday's extended trading.
Photo: Piotr Swat / Shutterstock
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