Interactive Brokers Group, Inc. (Nasdaq: IBKR) has released
its financial results for the quarter ending June 30, 2024. The company
reported diluted earnings per share of $1.65, compared to $1.20 for the same
quarter last year.
Net revenues for the current quarter were $1,230 million, up
from $1,000 million in the previous year. Income before income taxes was
reported at $880 million, compared to $652 million a year ago.
Net Interest Income Rises
Commission revenue increased by 26%, driven by higher
customer trading volumes in options, stocks, and futures. Net interest income
rose by 14% due to higher benchmark interest rates and increased customer
margin loans.
Other fees and services grew by 45%, mainly from risk
exposure fees and payments for order flow. Execution, clearing, and
distribution fees expenses increased by 24%, influenced by higher trading
volumes and an increased SEC fee rate.
Total Equity at $15.2 Billion
The pretax profit margin for the quarter was 72%, up from
65% a year ago. Total equity was reported at $15.2 billion. The company’s Board
of Directors declared a quarterly cash dividend of $0.25 per share, payable on
September 13, 2024, to shareholders on record as of August 30, 2024.
This article was written by Tareq Sikder at www.financemagnates.com.
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