Interactive Brokers has released its financial results
for the first quarter ending March 31, 2024, highlighting a positive
performance based on earnings and revenue. The company’s net revenues
experienced 13% growth at $1,203 million on a GAAP basis, driven by a boost in
customers’ accounts.
The growth in revenue marked a substantial increase from the previous
year’s $1,056 million (GAAP) and $1,015 million (adjusted). Commission revenue
rose 6% to $379 million. Interactive Brokers posted diluted EPS of $1.61 for the quarter, with a slightly higher adjusted EPS of $1.64. Compared to the same period last year, the reported EPS represents notable growth from
$1.42 (GAAP) and $1.35 (adjusted).
Options contract volume surged by 24%, while
futures contract and stock share volumes declined by 3% and 16%, respectively.
Additionally, net interest income grew by 17% to $747 million due to higher
benchmark interest rates, customer margin loans, and credit balances.
Compared to last year, Interactive Brokers’ customer
accounts expanded 25% to 2.75 million. Customers’ equity jumped 36% to $465.9
billion, while customer credits increased 9% to $104.9 billion.
Dividend Boost and Business Growth
Following the positive results, Interactive Brokers has declared a substantial increase in its quarterly cash dividend from
$0.10 to $0.25 per share. The group caters to a diverse
clientele, including individual investors, hedge funds, and financial advisors. It also focuses on leveraging technology to offer investment solutions.
Recently, Interactive Brokers launched two new services aimed at assisting select US hedge funds in managing and expanding
their operations. High Touch Prime Brokerage and Global Outsourced Trading are
designed to complement Interactive Brokers’ existing suite of offerings for
active traders and institutional investors.
High Touch Prime Brokerage provides eligible hedge
fund clients personalized support, offering access to a dedicated
Relationship Manager who serves as a central point of contact. This manager is equipped to address inquiries,
promptly resolve issues, and facilitate special requests based on the client’s
trading strategy and requirements.
Interactive Brokers has released its financial results
for the first quarter ending March 31, 2024, highlighting a positive
performance based on earnings and revenue. The company’s net revenues
experienced 13% growth at $1,203 million on a GAAP basis, driven by a boost in
customers’ accounts.
The growth in revenue marked a substantial increase from the previous
year’s $1,056 million (GAAP) and $1,015 million (adjusted). Commission revenue
rose 6% to $379 million. Interactive Brokers posted diluted EPS of $1.61 for the quarter, with a slightly higher adjusted EPS of $1.64. Compared to the same period last year, the reported EPS represents notable growth from
$1.42 (GAAP) and $1.35 (adjusted).
Options contract volume surged by 24%, while
futures contract and stock share volumes declined by 3% and 16%, respectively.
Additionally, net interest income grew by 17% to $747 million due to higher
benchmark interest rates, customer margin loans, and credit balances.
Compared to last year, Interactive Brokers’ customer
accounts expanded 25% to 2.75 million. Customers’ equity jumped 36% to $465.9
billion, while customer credits increased 9% to $104.9 billion.
Dividend Boost and Business Growth
Following the positive results, Interactive Brokers has declared a substantial increase in its quarterly cash dividend from
$0.10 to $0.25 per share. The group caters to a diverse
clientele, including individual investors, hedge funds, and financial advisors. It also focuses on leveraging technology to offer investment solutions.
Recently, Interactive Brokers launched two new services aimed at assisting select US hedge funds in managing and expanding
their operations. High Touch Prime Brokerage and Global Outsourced Trading are
designed to complement Interactive Brokers’ existing suite of offerings for
active traders and institutional investors.
High Touch Prime Brokerage provides eligible hedge
fund clients personalized support, offering access to a dedicated
Relationship Manager who serves as a central point of contact. This manager is equipped to address inquiries,
promptly resolve issues, and facilitate special requests based on the client’s
trading strategy and requirements.
