Interactive Brokers Group Reports Increase in Revenue and Profit

Interactive Brokers Group has announced higher revenue and profit for the third quarter of the year as its customer accounts experienced double-digit growth.

Financial Performance

For the quarter ended September 30, the electronic broker recorded a net income of $772 million, equivalent to $1.56 per share. This marked an increase from the previous year’s $483 million, or 97 cents per share. Adjusted earnings were reported at $1.55 per share, surpassing analysts’ estimates of $1.51 per share.

Growing Customer Base

Interactive Brokers Group saw a significant increase in its customer accounts, with a growth rate of 21%, reaching a total of 2.43 million accounts. Additionally, the company’s customer equity rose by 29% to reach $369.8 billion.

Revenue Growth

The Greenwich, Conn.-based company also reported a rise in revenue, reaching $1.15 billion compared to $790 million in the same quarter of the previous year. Analysts polled by FactSet had anticipated revenue of $1.11 billion.

Commission Revenue and Trading Volume Analysis

Commission revenue increased by 4% to $333 million, while customer trading volume varied across different product types. Options contracts volume increased by 18%, while both futures contracts and stock share volumes decreased by 1% and 22% respectively.

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