Interactive Brokers Group, Inc. has made two important announcements – firstly, the company has filed its financial results for the year ended on December 31 2019, and secondly, the trading provider revealed that it is registering 990 thousand of its Class A common stock in a bid to attract new clients.
Starting off firstly with the financial results from the US-based brokerage firm, which were filed with the Securities and Exchange Commission (SEC) on Monday, July 27 2020. According to the results, the company saw a slight uptick in total net revenues, increasing from $1.903 billion in 2018, up to $1.937 billion in 2019. This translates to a growth of 1.8 percent.
Net income, however, fell on a yearly comparison, coming in at $1.089 billion in 2019. This is lower than the $1.125 billion in 2018 by 3.2 percent. Basic earnings per share (EPS) were $2.11 for the period, down from $2.30 in the previous year. Diluted EPS were $2.10 for 2019.
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Interactive Brokers tries to attract new customers
As part of its efforts to attract new customers to its brokerage platform, Interactive Brokers revealed via a regulatory filing also on Monday that it will be registering up to 990 thousand shares of its Class A common stock.
The shares are offered as part of a promotion, with people interested in the new shares needing to participate in one or more of the broker’s promotions in order to be eligible for the new offering.
“The shares to be issued to eligible persons in the Promotions primarily will represent newly issued shares of Interactive Brokers Group, Inc. Class A common stock, although in limited instances, we may acquire shares through open market purchases or use existing treasury shares subject to applicable law. As a result of the promotional nature of the offering, we will not receive any cash proceeds from the issuance of our shares of Class A common stock,” the company said in its statement filed with the SEC.
Interactive Brokers’ Class A common stock is quoted on the Nasdaq Stock Market LLC’s Global Select Market under the symbol IBKR. The last reported sale price for the firm’s common stock was $49.38, as of July 24, 2020.