Interactive Brokers Reports Robust Q3 Results, Boosts Customer Accounts
Interactive Brokers has reported robust third-quarter results, driven by surging trading activity and rising interest income. The company's strong performance led to a cash dividend declaration and a significant increase in customer accounts.
The company's equity trading volumes soared by 67%, while options activity rose by 27%. Although futures volume declined by 7%, the overall increase in trading activity boosted commission revenue by 23% to $537 million. Interactive Brokers' customer accounts rose by 32% to 4.13 million, with customer equity climbing by 40% to $757.5 billion.
Net interest income increased by 21% to $967 million, supported by higher customer margin loans and larger credit balances. The company's GAAP net revenue rose to $1.66 billion, up from $1.37 billion in the same period last year. Profit before taxes rose to $1.31 billion, maintaining a stable pre-tax margin of 79%. General and administrative expenses dropped by 59% to $62 million due to the absence of one-time legal and regulatory costs.
Following the strong results, Interactive Brokers declared a cash dividend of $0.08 per share. Adjusted net revenue reached $1.61 billion, with diluted earnings per share at $0.59 compared to $0.42 a year earlier. The company's growth in trading activity and customer base indicates a positive outlook for the future.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Cyprus, Kuwait Strengthen Strategic Partnership with Upcoming Ministerial Meeting
- Inspired & Paddy Power Extend Virtual Sports Partnership for UK & Ireland Retail
- South West & South East England: Check & Object to Lorry Operator Licensing Now
