Interactive Brokers Group (Nasdaq: IBKR) ended the first quarter of 2023 with adjusted earnings of $1.35 per share, which missed the consensus market estimate by about $0.06. However, the figure jumped from the previous quarter's $1.30 per share and $0.82 in the first quarter of the previous year.
The latest reported diluted earnings per share came in at $1.42 compared to $0.74 in the previous year and $1.31 per share in the fourth quarter of 2022.
Stock Market Reacts to Interactive Brokers' Earnings
The 3.57 percent shortfall in Interactive Brokers' earnings from the market expectations has shaken investors' confidence. The company's shares ended Tuesday's trading hours by gaining 1.13 percent but dropped 4 percent in after-market trading as the earnings came.
Interactive Brokers' share price on Tuesday
Considering the after-hours plunge, Interactive Brokers shares added more than 15 percent this year compared to a gain of 8.1 percent in S&P 500.
Record Revenue of Interactive Brokers
The US-based broker reported net revenue above $1.05 billion for the quarter, with the adjusted figure at $1.01 billion. Both these figures increased significantly compared to the previous quarterly performances of the company. The revenue came in line with the market expectations.
In the fourth quarter of 2022, the reported revenue was at $976 million and the adjusted number at $958 million, while in the first quarter of that year, these figures were at $645 million and $692 million, respectively.
The brokerage reported $761 million as pre-tax income, while the adjusted figure reached $720 million. The pre-tax profit margin improved to 72 percent on reported figures and 71 percent on adjusted figures.
While the commission-based income of Interactive Brokers only increased 2 percent to $357 million, its net interest income jumped 126 percent to $637 million on 'higher benchmark interest rates and customer credit balances'. In addition, it generated a gain of $19 million from 'other income'.
Customer Metrics Improved
At the end of the latest quarter, Interactive Brokers had 2.20 million customer accounts, which is an increase of 5.2 percent and 21 percent on a quarterly and yearly basis, respectively. However, the total DARTs decreased 19 percent year-over-year to 2.05 million. The cleared DARTs also reduced by 17 percent to 1.85 million.
While the customer credits increased 4 percent to $96.6 billion, customer margin loans decreased 18 percent to $39.4 billion.
Interactive Brokers Group (Nasdaq: IBKR) ended the first quarter of 2023 with adjusted earnings of $1.35 per share, which missed the consensus market estimate by about $0.06. However, the figure jumped from the previous quarter's $1.30 per share and $0.82 in the first quarter of the previous year.
The latest reported diluted earnings per share came in at $1.42 compared to $0.74 in the previous year and $1.31 per share in the fourth quarter of 2022.
Stock Market Reacts to Interactive Brokers' Earnings
The 3.57 percent shortfall in Interactive Brokers' earnings from the market expectations has shaken investors' confidence. The company's shares ended Tuesday's trading hours by gaining 1.13 percent but dropped 4 percent in after-market trading as the earnings came.
Interactive Brokers' share price on Tuesday
Considering the after-hours plunge, Interactive Brokers shares added more than 15 percent this year compared to a gain of 8.1 percent in S&P 500.
Record Revenue of Interactive Brokers
The US-based broker reported net revenue above $1.05 billion for the quarter, with the adjusted figure at $1.01 billion. Both these figures increased significantly compared to the previous quarterly performances of the company. The revenue came in line with the market expectations.
In the fourth quarter of 2022, the reported revenue was at $976 million and the adjusted number at $958 million, while in the first quarter of that year, these figures were at $645 million and $692 million, respectively.
The brokerage reported $761 million as pre-tax income, while the adjusted figure reached $720 million. The pre-tax profit margin improved to 72 percent on reported figures and 71 percent on adjusted figures.
While the commission-based income of Interactive Brokers only increased 2 percent to $357 million, its net interest income jumped 126 percent to $637 million on 'higher benchmark interest rates and customer credit balances'. In addition, it generated a gain of $19 million from 'other income'.
Customer Metrics Improved
At the end of the latest quarter, Interactive Brokers had 2.20 million customer accounts, which is an increase of 5.2 percent and 21 percent on a quarterly and yearly basis, respectively. However, the total DARTs decreased 19 percent year-over-year to 2.05 million. The cleared DARTs also reduced by 17 percent to 1.85 million.
While the customer credits increased 4 percent to $96.6 billion, customer margin loans decreased 18 percent to $39.4 billion.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
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Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
