Interactive Brokers Group Inc (NASDAQ:IBKR) reported second-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.
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Interactive Brokers Q2 Highlights
Interactive Brokers reported revenue of approximately $1.90 billion for the second quarter, beating analyst estimates of $1.75 billion, according to Benzinga Pro. The company posted adjusted earnings of 69 cents per share, beating estimates of 64 cents per share.
Commission revenue increased 30% year-over-year on higher customer trading volumes. Stock trading volume was up 14% and options trading volume grew 17% year-over-year.
Net interest income was up 23% to $1.06 billion, primarily driven by higher average customer margin loans and customer credit balances.
Other fees and services saw 40% growth to $87 million, led by payment for order flow and risk exposure fees. Execution, clearing and distribution fees increased 22% year-over-year to $142 million.
Customer accounts grew 34% year-over-year to 5.19 million, and customer equity was up 40% to $930.30 billion.
The Interactive Brokers board declared a dividend of $0.0875 per share, payable on Sept. 14 to shareholders of record as of Sept. 1.
Management will further discuss the quarter on an earnings call with investors and analysts at 4:30 p.m. ET.
IBKR Shares Rise After The Close
IBKR Price Action: Interactive Brokers shares were up 1.57% in after-hours Tuesday, trading at $95.90 at the time of publication, according to Benzinga Pro.
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